26th January 2019 SC upholds bankruptcy code,cites improved financial flows The Code consolidates disparate bankruptcy and insolvency laws of the past under one umbrella ( diffferent laws create confusion + create conflict overlapping jurisdiction + Systematic delays complexities + Abuse by the promoter World bankit takes four years to wind up a business in India compared to 2 in china Unified framework to resolve insolvency and bankriptcy Quick resolution and reorg. Maximised value of assets, promoting entrepreneurship Improves the viability of credit in hands of banks and financial institutions Help develop credit markets . Insolvency- Inability to pay bill as and when due Bankruptcy- when a person is declared incapable to pay bill(court order on how the person would deal with unpaid liabilities)(legal declaration of insolvency) Liquidation-Winding up of the assets
UDAN3.0 GS3 inrastructure Same as udan 1 and Udan 2. Loanwaiver-GS3 agri Negatively effect the repayment discipline of farmer .Earlier debt waiver schemes have not led to increases in investment or productivity in agriculture .Leads to future shrinkage of farmers access toformal credit(banks become conservative in issuing fresh loans)l .Loan waivers do not promote investment or raise productivity the benefits of loan waivers accrue disproportionately to large farmers The Kerala Farmers' Debt Relief Commission Act, 2006 is an excellent model in this regard. This scheme defines debt as "any sum borrowed by a farmer from the creditor", with the creditor defined as "any person engaged in money lending, whether under a licence or not" In September 2018, agricultural NPAs (about 8%) were far lower than in industry (about 21%) .
I am a B.Tech graduate from IIT(ISM) Dhanbad.I have appeared for UPSC CSE thrice and cleared pre all the time.I have also cleared SSC CGL 20