sections of the society. With India poised for higher growth anchored on a knowledge economy,
      there are benefits to be reaped by investing in human capital.
      Insolvency And Bankruptcy Code
           A Bankruptcy Law Reforms Committee was set up in 2014 for providing an entrepreneur
      friendly legal bankruptcy framework for meeting global standards for improving the ease of
      doing business with necessary judicial capacity. Accordingly, the Insolvency and Bankruptcy
      Code, 2016 (IBC) became operational in 2016. The Code aims to promote entrepreneurship,
      availability of credit, and balance the interests of all the stakeholders by consolidating and
      amending the laws relating to reorganization and insolvency resolution of corporate persons,
      partnership firms and individuals in a time bound manner and for maximization of value of the
      assets of such persons and matters connected therewith or incidental thereto. It proposes a
      framework to ensure: early detection of stress in a business; initiation of the insolvency
      resolution process by debtor, financial creditor or operational creditor; liquidation of unviable
      businesses; and avoiding destruction of value of failed business. The Ministry of Corporate
      Affairs is taking further necessary steps for implementation of the Code.
      Financial Stability and Development Council
           With a view to strengthening and institutionalizing the mechanism for maintaining financial
      stability, enhancing inter-regulatory coordination and promoting financial sector development,
      the Financial Stability and Development Council (FSDC) was set up as the apex level forum in
      2010. The Council, inter-alia, monitors macro prudential supervision of the economy including
      functioning of large financial conglomerates, and addresses inter-regulatory coordination and
      financial sector development issues, including issues relating to financial literacy and financial
      Financial Stability Board
           Financial Stability Board (FSB) was established in 2009 under the aegis of G20 by bringing
      together the national authorities, standard setting bodies and international financial institutions
      for addressing vulnerabilities and developing and implementing strong regulatory, supervisory
      and other policies in the interest of financial stability. India is an active member of the FSB
      having three seats in its Plenary.
      Infrastructure Financing
           Given the enormity of the investment requirements and the limited availability of public
      resources for investment in physical infrastructure, it is imperative to explore avenues for
      increasing investment in infrastructure through various sources. In view of this, government
      launched the following to mobilize the long term investment in infrastructure in the country:
           i.) Bank Financing: Banks continue to be major source of financing infrastructure. RBI has
      been modifying guidelines for advances to infrastructure including 5/ 25 scheme, take out
           ii.) Institutional Finance: The Government has also set up India Infrastructure Finance
      Company Limited (IIFCL) with the specific mandate to play a catalytic role in the Infrastructure
      sector by providing long-term debt for financing infrastructure projects. IIFCL funds viable
      infrastructure projects through long term debt, refinance to banks and financial institutions for