Unintended Consequences of IBC

Insolvency and Bankruptcy Code (IBC) act was considered as a path breaking legislation which provided for a time bound resolution of insolvency and bankruptcy cases. The act was brought in to address the challenge of chakravyuha i.e. exit issues in ..

Pradeep Kumar Sinha committee constituted to address issues of stressed thermal power projects

The Union Government has constituted a high level empowered committee to address the issues of stressed thermal power projects. The committee will be headed by Cabinet Secretary, Pradeep Kumar Sinha with representatives from the Ministry of Railways, Ministry of Finance, ..

Latest report of Moody’s Investors Service projects GDP growth forecast to 7.3% in 2018

The latest report of Moody’s Investors Service has cut India’s GDP growth forecast to 7.3% in 2018 from the previous estimate of 7.5% due to higher oil prices and tighter financial conditions. However, Moody’s maintained its 2019 growth forecast at ..

The Indian Overseas Bank signs Information Utility pact with NeSL

The Indian Overseas Bank (IOB) has signed Information Utility (IU) pact with National E-Governance Services Limited (NeSL) to share financial and security information under the Insolvency and Bankruptcy Board of India (IU) regulation 2017.. With this agreement, the IOB branches ..

Month: Current Affairs - April, 2018

Committee on Public Credit Registry (PCR)

The Reserve Bank of India has constituted a 10-member ‘High Level Task Force on Phublic Credit Registry (PCR) for India’, which will, among other things, suggest a roadmap for developing a transparent, comprehensive and near-real-time PCR for India. The committee ..

Bhutan to be recommended for graduation from UN’s Least Developed Country (LDC) category

The United Nations Committee for Development Policy (CDP) has recently announced that the four countries will be recommended for graduation from the Least Developed Country (LDC) category. These are Bhutan, Kiribati, Sao Tome and Principe and Solomon Islands. These countries ..

ICICI Bank launches instant overdraft ‘InstaOD’ facility for Micro, Small and Medium Enterprises (MSME)

The ICICI Bank has launched instant overdraft ‘InstaOD’ facility for Micro, Small and Medium Enterprises (MSME) in a completely online and paperless manner. Customers can get overdraft facility up to Rs 15 lakh for a year anytime, anywhere using the ..

Moody’s Investors Service upgrades India’s sovereign ratings

International rating agency Moody’s Investors Service has recently upgraded the Government of India (GoI)’s local and foreign currency issuer ratings to Baa2 from its lowest investment grade (Baa3) and changed the outlook on the rating to stable from positive. Moody’s ..

Mamta Suri taken charge as new Executive Director of Insolvency and Bankruptcy Board of India (IBBI)

Dr. Mamta Suri has taken charge as Executive Director of Insolvency and Bankruptcy Board of India (IBBI) in New Delhi on August 16, 2017. Before joining IBBI, Dr. Suri was serving as Chief General Manager, Insurance Regulatory Development Authority of ..

The National Conference on “Insolvency and Bankruptcy: Changing Paradigm” was held in Mumbai

Arun Jaitley, the Union Minister of Finance, Defense and Corporate Affairs, was the Chief Guest at the National Conference on ” Insolvency and Bankruptcy: Changing Paradigm”, which was held at Mumbai on August 19, 2017. Besides inaugurating the conference, Jaitley ..