In a recent statement, Deepika Kumar sheds light on the transformative impact of the Insolvency and Bankruptcy Code (IBC) in the Indian financial landscape. Her insights focus on a pivotal aspect of the IBC, highlighting its role in empowering creditors and preventing value destruction.
Quoting Deepika Kumar, "The reduction in the gross value of NPAs in the Indian banking system from ₹8.96 trillion in March 2018 to ₹5.77 trillion in December 2020 is a testament to the success and adoption of the IBC. The IBC has not only empowered the creditors but has also helped in the prevention of value destruction."
Deepika Kumar's observations encapsulate the broader impact of the IBC on India's financial ecosystem, reaffirming its position as a cornerstone of insolvency reform. As the country continues to navigate economic challenges, the IBC stands as a beacon of resilience, offering a robust framework for debt resolution and value preservation.
