What is the significance of the insolvency and bankruptcy Code Amendment Ordinance 2021?

The significance of the Insolvency and Bankruptcy Code Amendment Ordinance 2021 was to amend the Insolvency and Bankruptcy Code 2016. This new amendment was created with the purpose of providing a quick and efficient insolvency resolution process for Micro, Small and Medium Enterprises (MSME). You can read about Insolvency And Bankruptcy Code (IBC) – IBC Amendment Bill 2021 [UPSC Notes GS III] in the given link.

Further readings:

1. Non Performing Assets (NPA) – Facts for UPSC GS-III
2. Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19