New Delhi, Oct 1 (PTI) The insolvency law has helped banks reduce their non-performing assets and the collective endeavour must be to compress timelines, deepen bidder participation and sharpen tools that can discourage value destructive behaviour during the resolution process of stressed assets, a senior official said on Wednesday.

Financial Services Secretary M Nagaraju said several advisories have been issued in the recent past with respect to implementation of the Insolvency and Bankruptcy Code (IBC).

The Code, which was enacted in 2016, provides for a time-bound and market-linked resolution of stressed assets. Over the years, banks have been able to recover dues through the use of the Code and entities going for settlement before initiation of the resolution process.

“Once a decisi

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