Which reform aimed at reducing the non-performing assets (NPAs) in the Indian banking sector?Question 2AnswerA.FDI (Foreign Direct Investment)B.Make in India initiativeC.IBC (Insolvency and Bankruptcy Code)D.GST (Goods and Services Tax)
Question
Which reform aimed at reducing the non-performing assets (NPAs) in the Indian banking sector?Question 2AnswerA.FDI (Foreign Direct Investment)B.Make in India initiativeC.IBC (Insolvency and Bankruptcy Code)D.GST (Goods and Services Tax)
Solution
The reform aimed at reducing the non-performing assets (NPAs) in the Indian banking sector is C. IBC (Insolvency and Bankruptcy Code). This reform was introduced by the Indian government in 2016 to consolidate all existing insolvency related laws and to simplify the process of insolvency and bankruptcy proceedings. It helps in recognizing NPAs and provides a legal framework for their resolution.
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