Parliamentary panel on resolution framework for bankruptcy to meet today

The panel will start deliberations on bankruptcy situation in NBFCs, insurance companies

Wednesday will see the first meeting of Parliament's joint committee to study the government's Bill to put in place a resolution framework to deal with bankruptcy situations at banks, insurance companies and entities such as non-banking financial companies.

The Financial Resolution and Deposit Insurance Bill was referred to the joint committee on August 10, during the monsoon session, and the panel was constituted on August 19. It has 20 members from the Lok Sabha and 10 from the Rajya Sabha. Bhupender Yadav, the latter's member from the ruling Bharatiya Janata Party, heads it.

 The report is supposed to come in the winter