IBC-New Amendments Strengthning The Spirit Of The Law
The Cabinet has approved a promulgation of an ordinance to amend the 16-month-old Insolvency and Bankruptcy Code (IBC).
The present amendment is based on recommendations of a 14-member government appointed committee that had last month suggested a slew of measures, including addressing difficulties of home buyers and making recoveries easier for lenders plus disqualifying certain classes of promoters from back door entry into the resolution process. ...
Demonetization of the Indian Currency - Effect on the Economy
“A recent move of the Central Government exercising its powers u/s 26(2) of the Reserve Bank of India Act, 1934, to withdraw the legal tender character of existing bank notes in denominations of ₹ 500 and ₹ 1000 issued by Reserve Bank of India (RBI) is unprecedented. The demonetization of ₹ 500 and ₹ 1000 banknotes was a policy enacted by the Government of India on 8th November, 2016. All ₹ 500 and ₹ 1000 banknotes of the Mahatma Gandhi Series ceased to be legal tender in India from 9th November, 2016” ...
FinTech – A new concept in the era of Digitization
FinTech describes a business that aims at utilizing modern technology and software to provide efficient and superior financial services platform to institutions and end users. FinTech companies are accelerating the pace of change and are reshaping the financial services industry radically. Financial service providers like banks are recognizing the potentials of the FinTech. It is clear, however, that the disruptive innovations of FinTech cannot wholly eliminate or completely decimate the traditional banking or finance, but is expected to go a long way in establishing a clear footprint towards ...