Bank liquidation needs to be handled by insolvency professionals (IPs) under the supervision of the Reserve Bank of India (RBI) and the Deposit Insurance and Credit Guarantee Corporation (DICGC), according to an Insolvency and Bankruptcy Board of India (IBBI) study. At present, IPs do not handle failed banks under the Insolvency and Bankruptcy Code (IBC), as banks are outside the Code’s corporate insolvency framework. Instead, bank failures are dealt with under banking laws with RBI, DICGC and the relevant registrar playing different roles. Liquidators are appointed under the existing bank liquidation framework.