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To make surety bond business more attractive, the government is going to make relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditor in case of default of infra projects. The surety bond issued by a general insurance company is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). The surety is a company that provides the financial guarantee to the obligee (usually a government entity) that the principal (business owner) will fulfil their obligations. The Ministry of Corporate Affairs is looking into concerns raised by the insurers that they should have resort to recovery on par with the banks as forwarded by the Department of Financial Services under the finance ministry. Thus, relevant changes would be made in IBC to provide financial creditor status to the insurer under the resolution process.
The capital of the Vajji Mahajanapada was ____________.
Which former executive of Care Ratings has been barred by SEBI from associating with any stock market intermediary for two years?
In what year did the EU and India launch their initiative for startups in Battery Recycling Technologies for Electric Vehicles (EVs)?
Which indigenously developed explosive was successfully tested by the Indian Navy, marking a significant achievement in India's defense self-reliance?
Shikhtila, Rapti and Chhoti Gandak are the tributaries of which of the following rivers?
What is the reproductive strategy called where parasites exploit the care of other individuals to raise their young?
Which statement is correct regarding the propagation of sound and light in different mediums?
I. Sound travels faster in water than in air.
<...The GST Council meeting discussed tax relief on:
In which districts of Uttar Pradesh, flowers are used to produce scents and perfumes?
Which bank has been assigned the Lead Bank Responsibility for the newly formed district of Maihar in the state of Madhya Pradesh?