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Banks recover 3 times more under IBC than other routes

A RBI report shows that average recovery by banks under the Insolvency and Bankruptcy Code (IBC) stood at 41.3% of the claims filed in FY18 while the average recovery through other mechanisms such as SARFAESI Act, Debt Recovery Tribunals and Lok Adalats stood at just 12.4%. Banks and other financial creditors recovered around Rs 4,92,500 crore from 21 accounts for which resolution plans were approved under IBC in FY18. In comparison, recovery through SARFAESI route stood at Rs 26,500 crore. The recoveries through DRTs and Lok Adalats were Rs 7,200 crore and Rs 1,800 crore respectively.

Read More at The Financial Express News date : 29 Dec 2018, Saturday

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