Virtual Industry Interaction
RBI’s Revised Regulatory Framework For NBFCs and Digital Lending &
Pre-Packaged Insolvency Resolution Process

18 February, 2021

About Event



Special Address
 
Shri Sunil Mehta
Chief Executive, Indian Banks Association
 
Shri Ajit Pai
Consultant- Vice Chairman, NITI Aayog
 
Shri RiteshKavdia (Invited)
Executive Director, Insolvency & Bankruptcy Board of India (IBBI)
 
Respected Members,
 
Greetings from ASSOCHAM,
 
The Non-Banking Financial Companies (NBFC) sector has, over the years, evolved considerably in terms of size, operations, technological sophistication and entry into newer areas of financial services and products. NBFCs are vital to the economy as they support real economic activity and complement the credit intermediation function of banks. They play a crucial role in widening access to financial services and enhance competition in the financial sector. In pursuance of the announcement made in the Statement on Developmental and Regulatory Policies dated December 04, 2020, the Reserve Bank of India has released on January 22, 2021 a Discussion Paper on Revised Regulatory Framework for NBFCs- A Scale-Based Approach.
 
India has proposed a pre-packaged insolvency option that will allow creditors and debtors to work on an informal plan and then submit it for approval even as the nation braces for a spike in bankruptcies once the freeze on filings is lifted. The aim, the proposal says, is to aid the existing insolvency framework and cut the cost and time of the resolution process. While there is no specific statutory definition, a pre-packaged will allow the creditor and the debtor to informally work on a resolution without the involvement of a court or a tribunal. The plan, if the parties agree, can be presented to the adjudicating authority for approval. It's a hybrid of the informal and formal insolvency process and can be applied even before a default.
 
In this connection, on behalf of the ASSOCHAM, we would like to take this opportunity to cordially invite you as an Eminent Speaker at this timely and meaningful e-summit and request your esteemed organization to extend nominal financial support for this timely and meaningful Virtual Industry Interaction on RBI’s Revised Regulatory Framework For NBFCs and Digital Lending & Pre-Packaged Insolvency Resolution Process scheduled to be held on Thursday, 18th February 2021 (11:00 AM To 02:00 PM).
 
In this connection, on behalf of the ASSOCHAM we would like to invite you as delegate to attend this timely and meaningful discussion. The QR code to register has been enclosed for your kind reference and login link to join the meeting is:  https://assochamindia.webex.com/assochamindia/onstage/g.php?MTID=ea3a7bdf0b111cec97afed6cb4ba8aaeb
 
After registering, you will receive a confirmation email containing information about joining the ASSOCHAM Virtual Industry Interaction on RBI’s Revised Regulatory Framework For NBFCs and Digital Lending & Pre-Packaged Insolvency Resolution Process.
 
For more details on sponsorship, any technical issue in registration or joining webinar, please contact; Mr. Kushagra Joshi, 8447365357, kushagra.joshi@assocham.com and Mr. Vivek Tiwari, 9634235287, vivek.tiwari@assocham.com
 
For more details, please find enclosed the draft flyer for your kind reference.
 
Looking forward to receiving your kind and early confirmation at this important Virtual Industry Interaction on RBI’s Revised Regulatory Framework For NBFCs and Digital Lending & Pre-Packaged Insolvency Resolution Process.