New Delhi, March 30 -- Finance Minister Nirmala Sitharaman on Monday said the Insolvency and Bankruptcy Code (IBC) has emerged as a crucial player in improving India's banking sector, highlighting its role in keeping stressed institutions alive, enhancing valuations, and protecting jobs.
Replying to the Insolvency and Bankruptcy Code (Amendment) Bill 2025 in the Lok Sabha, she said, "IBC has contributed a lot in terms of keeping institutions alive. companies have found resolution, their values have been brought up, valuation improved, and the workforce has been protected."She stressed that resolution of stressed assets under the Code has had a distinct positive outcome for the banking ecosystem.
Citing data, Sitharaman said that by Decemb...