The Insolvency and Bankruptcy Code was the best measure for banks to recover bad loans in FY23, according to the latest edition of the Economic Survey.Since the inception of the code in 2016, 67% of the 5,893 corporate insolvency resolution processes that had commenced under the code by September 2022 had been closed, the survey noted.While 46% of such proceedings ended in liquidation orders, 14% culminated in the approval of resolut…
The Insolvency and Bankruptcy Code was the best measure for banks to recover bad loans in FY23, according to the latest edition of the Economic Survey.
Since the inception of the code in 2016, 67% of the 5,893 corporate insolvency resolution processes that had commenced under the code by September 2022 ha…
Read the full article at: https://www.bqprime.com/economic-survey-2023/economic-survey-2023-ibc-brought-the-highest-recovery-for-banks-in-fy23