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Draft bill on resolution of financial firms credit positive: Moody's

Moody's says that having a comprehensive framework in place for stressed financial firms is an important step

Press Trust of India  |  New Delhi 

The draft bill on a resolution of financial firms is credit positive for banks as it is an important step to have a comprehensive framework in place for stressed financial firms, Moody's Investors Service on Tuesday said. After enacting a bankruptcy code for time-bound settlement of insolvency cases in non-financial firms, the finance ministry last month released a draft bill to set up a resolution corporation to address similar issues among financial firms. "Currently, the resolution of financial firms in India is based on minor parts of legislation enacted ...

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First Published: Tue, October 18 2016. 15:45 IST
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