NEW DELHI (Reuters) – India’s finance ministry has asked managing directors of public sector banks to review monthly the top 20 insolvency cases, financial services secretary told reporters.
The government has asked for reviews of insolvency cases as there are delays in admission of cases in insolvency courts.
“There are delays in admission stage,” Vivek Joshi, said.
India’s finance minister will also review the government-backed bad bank as there delays in acquiring soured loans, Joshi said.
(Reporting by Nikunj Ohri; Editing by Toby Chopra)
