IBC Enhances Business Environment and Asset Recovery in India
The Insolvency and Bankruptcy Code (IBC) has significantly improved India's insolvency framework, resolving 1,194 companies and enabling creditors to recover ₹3.89 lakh crore. Legislative amendments and regulatory changes have strengthened the framework, leading to a decline in Gross Non-Performing Assets (GNPAs) to 2.3%. The IBC has fostered a more stable banking system and enhanced creditor confidence, promoting investment and entrepreneurship.
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