Current Affairs - Banking - Discussion

Corporation Bank has signed an information utility (IU) agreement with National e-Governance Services Ltd (NeSL), the first IU registered with the Insolvency and Bankruptcy Board of India (IBBI), to share financial and security information under IBBI (IU) Regulation 2017. They serve the needs of the banking system by providing data to insolvency professionals, adjudicating authority and the Insolvency and Bankruptcy Board of India on the proof of borrowing, proof of default and security interest data in respect of NCLT cases while adhering to prescribed standards of information security.