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actHistoricalSaturday, 28 May 2016

Insolvency and Bankruptcy Code (IBC), 2016

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Citations are auto-generated; verify before publishing. The act classification is PolicyDhara's, not the source's.
Policy framework or directive — a strategic document setting direction, principles, and objectives for governance. Guides the design of schemes, legislation, and implementation strategies.
Summary
Comprehensive insolvency resolution framework consolidating existing laws. Created NCLT/NCLAT for resolution, IBBI as regulator, and Insolvency Professionals. Set strict 180-day timeline for resolution. Transformed India's credit culture.
Key Facts
TypeAct
SourceHistorical Record (Curated)
PublishedSaturday, 28 May 2016
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
20 million central + state government employees
Key Authorities
Ministry of FinanceRBISEBIDEAPMO
Key Stakeholders
TaxpayersBanks & NBFCsInvestorsCivil ServantsState GovernmentsJudiciary
Government Context
NDA IBJP-led NDA
Centre-Right
LeftCentreRight
Explore Sectors
Finance & Economy469 tracked→Governance & Reform429 tracked→
Read Full Text at Source
Related Policies
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Pusad Urban Co-operative Bank Ltd., Pusad, Dist. Yavatmal, Maharashtra – Extension of Period
◆ mediumYesterdayRBIPolicy documentNotification
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Pusad Urban Co-operative Bank Ltd., Pusad, Dist. Yavatmal, Maharashtra vide Directive No. NGP.DOS.SSM3.No.S611/5-04-166/2025-2026 dated November 06, 2025, for a period of six months up to close of business on May 07, 2026, which was last extended up to the close of business on August 07, 2026 vide Directive No. DOR.MON/D-11/12-22-635/2026-27 dated April 30, 2026. The Rese
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