On January 28, 2026, the Secretary, Department of Financial Services (DFS), delivered a keynote address at the 'IBBI and INSOL India International Conclave 2026' in New Delhi. The Secretary highlighted the role of the Insolvency and Bankruptcy Code (IBC) in transforming the insolvency landscape through a transparent and efficient debt resolution process. The focus was on streamlining the Corporate Insolvency Resolution Process (CIRP) in a time-bound manner while balancing the interests of all stakeholders. Challenges regarding the timeliness and effectiveness of insolvency proceedings were emphasized. The impact of high realizations in declining the Gross NPA ratio of Scheduled Commercial Banks (SCBs) was commended. Key discussions encompassed the collaborative role of the Ministry of Corporate Affairs (MCA), IBBI, and DFS in carrying out amendments to the IBC and expediting the CIRP through periodical review of large accounts of Public Sector Banks (PSBs).
Key Entities Referenced
IBBI: Insolvency and Bankruptcy Board of India, playing a role in insolvency resolution.
IBC: Insolvency and Bankruptcy Code, the legal framework for insolvency resolution.
Department of Financial Services (DFS): Department under the Ministry of Finance, involved in financial sector reforms.
CIRP: Corporate Insolvency Resolution Process, a part of the IBC.
Ministry of Finance: Government ministry overseeing financial matters.
Ministry of Finance
Secretary, DFS delivers keynote address at ‘IBBI
and INSOL India International Conclave 2026
Secretary, DFS highlights the role of IBC in transforming the
insolvency landscape through transparent and efficient debt
resolution process
प्रव तथ: 28 JAN 2026 9:16PM by PIB Delhi
Secretary, Department of Financial Services, delivered keynote address at ‘IBBI and INSOL India
International Conclave 2026’ at New Delhi today.
Secretary, DFS highlighted the role of IBC in transforming the insolvency landscape through transparent
and efficient debt resolution process, with focus on streamlining the CIRP process in a time bound manner
by balancing the interest of all stakeholders.
The challenges on timeliness of resolutions process and effectiveness of insolvency proceedings were also
emphasized.
The impact of high realizations in declining Gross NPA ratio of SCBs was commended.Key deliberations encompassed the collaborative role of MCA, IBBI and DFS in carrying out the
amendments in IBC and undertaking measures to expedite the CIRP by periodical review of large
accounts of PSBs.
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NB/AD
(रलीज़ आईडी: 2219811) आगंतुक पटल : 107