Insolvency law improved loan recoveries, resolutions: RBI
The Reserve Bank of India (RBI) said loan recoveries and resolutions improved in 2017-18 primarily because of evolution of the Insolvency and Bankruptcy Code. "Vigorous efforts" by banks also led to speedier loan recovery, RBI added. The central bank further said the prompt corrective action (PCA) framework, which places operational restrictions on weak lenders, helped improve their performance.