As part of ‘Fresh Start’ provisions under Insolvency Laws, the government plans to give debt waivers to distressed borrowers from economically weaker sections. The criteria under which borrowers will be eligible for debt waivers, are being discussed with the microfinance industry.
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The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. More Info
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Livemint – Govt plans debt waiver for ‘small distressed borrowers’ under insolvency law
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