IBC Amendments Overlook Real Estate Sector

The Indian government is making changes to the Insolvency and Bankruptcy Code (IBC) to help banks get their money back faster.

These changes include new rules for group insolvency, cross-border insolvency, and letting creditors start insolvency processes.

The goal is to make the process quicker and get more money back for lenders, especially in sectors that aren't real estate.

However, there are still a lot of cases waiting to be solved, and the government is working to add more judges to handle them.

The IBC has already helped recover a lot of money, but there's still room for improvement.

ICRA, a ratings agency, says that the new rules don't do enough to help the real estate sector, which has a lot of problems right now.

They think the government needs to make special changes to help homebuyers and finish stuck housing projects.