Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital

Q: How long will it take to read this news story?

The story "Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital" has 282 words across 12 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital" was covered 7 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 343 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22837234</li><li>URL: https://beamstart.com/news/lenders-have-recovered-rs-35-17277856813198</li></ul>

Business Standard Logo Business Standard 7h ago

Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital - Business Standard

Quick Summary:

Lenders have recovered Rs 3.5 lakh crore through resolution of stressed assets under the insolvency process in the last eight years, a period during which NCLT approved 1,000 resolution plans, IBBI Chairperson Ravi Mital said on Tuesday.

This accounts for 45 per cent of the 1,000 such plans approved in the last eight years, Mital said at a function to mark the eighth foundation day of the IBBI.According to him, Rs 3.5 lakh crore has been recovered directly by lenders, of which Rs 1 lakh crore was in the last two years.

The Insolvency and Bankruptcy Code (IBC) provides for a market-linked and time-bound resolution of stressed assets.