BJP MP Meets RBI Governor, Key Economic Discussions Held

BJP MP Bhartruhari Mahtab met with RBI Governor Sanjay Malhotra for a pivotal discussion on India's economic and financial systems. They addressed the Insolvency and Bankruptcy Code, with potential amendments expected in the monsoon session to ease regulatory pressure on businesses under CCI requirements.

Bharatiya Janata Party Member of Parliament and Chairperson of the Parliamentary Standing Committee for Finance, Bhartruhari Mahtab, engaged in a significant meeting with Reserve Bank of India Governor Sanjay Malhotra on Thursday. Mahtab revealed that their discussion was 'meaningful', covering a comprehensive range of topics related to India's economic climate and financial framework.

The BJP MP mentioned that the forthcoming meeting, slated for July 23 or 24, will spotlight the Insolvency and Bankruptcy Code (IBC). Mahtab highlighted, 'Today's conversation with the RBI Governor was notably fruitful. He provided extensive insights into our country's economic and financial conditions. Many inquiries from members were convincingly addressed. Our next scheduled interaction with the Governor will delve into the IBC.' Despite global challenges, he emphasized the positive trajectory of India's economy.

In parallel developments, sources informed ANI that the Central government is contemplating an amendment to the IBC during the monsoon session of Parliament. This amendment targets Section 31(4), which currently requires prior approval from the Competition Commission of India (CCI) for resolution plans. The amendment aims to alleviate CCI's burden, eliminating the need for its approval for company resolutions under the IBC, a move influenced by the Supreme Court's recent findings in the AGI Greenpac case.

(With inputs from agencies.)