<h1>IBC 2016 Boosts India's Insolvency Resolution, Improves Recovery Rates, and Enhances Ease of Doing Business Ranking by 84 Places.</h1> The Insolvency and Bankruptcy Code (IBC), 2016, is hailed as a transformative reform by a government official, significantly improving India's insolvency resolution landscape. Since its implementation, India's ranking in the World Bank's Ease of Doing Business Report for resolving insolvency has surged by 84 places, with recovery rates improving from 26 to 71.6 cents on the dollar. The IBC acts as a deterrent against unscrupulous borrowers, fostering lender confidence. Despite a temporary suspension during the COVID-19 crisis, the IBC is credited with aiding economic recovery. The Indian Institute of Insolvency Professionals plays a crucial role in this ecosystem, promoting integrity, objectivity, and innovation.