Insolvency and Bankruptcy Code #economy #banking #upsc #prelims #bankruptacy #judiciary

The Central government introduced the Insolvency and Bankruptcy Code(IBC) in 2016 to resolve claims involving insolvent companies. This was intended to tackle the bad loan problems that were affecting the banking system. Two years on the IBC has succeeded in a large measure in preventing corporates from defaulting on their loans. The IBC process has changed the debtor-creditor relationship. A number of major cases have been resolved in two years, while some others are in advanced stages of resolution.#economy #banking #upsc #prelims Telegram channel - https://t.me/aspirantvoice