Secretary, DFS highlights the role of IBC in transforming the insolvency landscape through transparent and efficient debt resolution process

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.

Insolvency resolution: IBC reforms to streamline CIRP, expedite large account reviews, and balance stakeholder interests. The Insolvency and Bankruptcy Code is framed as the mechanism to deliver transparent, efficient debt resolution by streamlining the Corporate Insolvency Resolution Process in a time bound manner while balancing stakeholder interests; challenges on timeliness and effectiveness are noted, and coordinated action by the Ministry of Corporate Affairs, the Insolvency and Bankruptcy Board and the Department of Financial Services-including periodical review of large public sector bank accounts-is advanced to expedite CIRP and improve asset realisations.