Insolvency reform provides a strong foundation for entrepreneurship and innovation. Some business ventures will always fail, but they will be handled rapidly and swiftly. Entrepreneurs and lenders will be able to move on, instead of being bogged down with decisions taken in the past.
Insolvency and Bankruptcy Code, 2016
The Insolvency and Bankruptcy Code is a systemic reform that helps in the functioning of the credit market. It improves India's rating as an insolvency regime.