Govt clears changes to insolvency law; secured lenders to get preference
In a big relief for banks, the government is bringing in multiple reforms to the three-year-old Insolvency and Bankruptcy Code (IBC), providing clarity about preference to secured lenders over operational creditors, to be applicable retrospectively; strict timelines for the resolution and litigation process; and powers of the committee of creditors (CoC). Read more...
Jalan panel proposes 'nominal' transfer of RBI funds to govt over 3-5 years
The Union government may not get the windfall gain it was expecting from the Reserve Bank of India (RBI) reserves