It has been five years of the IBC, ie the Insolvency and Bankruptcy Code in India and recent reports have been critical of its performance, in debt resolution, as also its recovery. The rate of recovery under the IBC, has been certainly far better than what it had been under the DRT/SARFAESI laws, but it has not lived upto the hype that was created around it. It was none other than the senior BJP minister Shri Piyush Goyal, who had rushed in 2017 itself to tweet, that the IBC is the panacea to the NPA recovery crisis of India. Unfortunately, there has been no cure to the NPA crisis so far. And about the IBC, the government claims that it is still early in the day, the IBC law is still evolving and that both debt resolution and recovery will improve in the coming years, after the bankruptcy law stabilises. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
#NPACrisis #IBC #BJP
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