Discover and read the best of Twitter Threads about #IBC

Most recents (13)

Apart from historic #FarmBills to defang APMC,amendments to
#InsolvencyandBankruptcyCode,by @narendramodi gov,merit attention

IBC Bill mandates that default on repayment wef March25,2020 would not be considered for initiating insolvency proceedings for at least 6mnths-Big move
This amendment to #IBC will aid #MSMEs in particular,who may have been impacted by lockdown

Guiding principle of IBC by @narendramodi gov has been #Resolution of a distressed unit,to keep it as #GoingConcern

#Liquidation is the last resort&updated IBC Bill seeks to further that
Big highlight of #MonsoonSession is #Supplementary demand for addnl spending of 2.36 lakhCr by @narendramodi gov due to #Covid, of which 1.67 lakhCr is cash outgo

40000Cr more for #MNREGA
20000Cr for #PSBRecapitalisation
44340Cr as #RevenueDeficit grant to States&2262Cr to #SDRF
Read 4 tweets
1/13 Today in @cosmos:
✅Stargate Testnet Gaia tag was updated to 1a. Testing is ongoing ⏩github.com/cosmos/gaia/re…
Make sure you keep up with the Stargate upgrade ⏩ github.com/cosmosdevs/sta…
and check out the website for upcoming events ⏩
stargate.cosmos.network
#todayincosmos
2/13 Today in @cosmos:
✅Starport v0.0.10 by @tendermint_team was released! Check out the new features and how easy it is to build a @cosmos blockchain ⏩medium.com/tendermint/sta…
To try out Starport, go to github.com/tendermint/sta… and check latest video 🎥
3/13 Today in @cosmos:
✅did you miss @AltheaNetwork 's dev call on Peggy, the @cosmos <-> @ethereum bridge & the latest updates shared by the team? ⛩️
Rec here 📽️
✅Next call: Intro to Peggy on Hub, Wed Sept 2nd, 11am PDT. Join 🎥
Read 14 tweets
.@RahulGandhi&mainstream media kept spewing lies about how #AnilAmbani was favoured,in #Rafale deal,but today when PSB #SBI has dragged Anil's #RComm,to #NCLT in a 1200Cr loan default, @INCIndia&its media cronies are quiet--This should have been mainstream news

#RCommBankruptcy
Loans of Rs 565Cr&635Cr were given to #RComm&RTIL in Aug 2016 by SBI

In Sep2016,#AnilAmbani provided personal guarantee for availing credit facility

In 2017,accounts of #RComm &RITL were held to be in default, since Aug2016.

In Jan2018,#SBI invoked guarantee issued by Anil
"Sec 60(2) of #IBC provides for proceedings against personal guarantors,running parallel to #CIRP;False to assume,no action can be taken against guarantors until #ResolutionPlan is accepted,"said NCLT

Clearly,IBC,by @narendramodi gov is a powerful tool to nail wilful defaulters
Read 3 tweets
The Karnataka High Court will shortly resume hearing on plea challenging the validity of Regulation 39 to 41 of #SEBI (Mutual Fund) Scheme, 1996 pertaining to winding up of MF schemes.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Yesterday, Sr. Adv. Mr. @sradvravindra pointed out to the court that the regulations do not allow #SEBI to enter into the arena of judging the correctness of the decision of winding up.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton
Mr. @sradvravindra: Under regulation 41(2)(b) the investors have the lowest priority of receiving the money which is discriminatory.

@amrutanikam26 @sh_abhinav @LiveLawIndia @barandbench #gslupdates #franklintempleton #franklinupdate
Read 61 tweets
German GDP down 10% in June qtr

France down 14%

Singapore minus 41%

#USGDP minus 32.9%,as per advance estimates

#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth

Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%
Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too

#SBI reported 81% jump in net profit at Rs 4189Cr

Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%

#GrossNPAs fell from 6.15% to 5.44% QoQ💪
#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr

Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses

SBI made Covid related provisions worth 1836Cr inJune qtr

Total provisions against Covid related losses are 3008Cr
Read 13 tweets
YesBank's 15000Cr #FPO opens on 15thJuly,with 200Cr for employees

#SBI holds 48%+ stake &will invest 1760Cr in FPO

15000Cr will boost #CET-1 of Yes

Brilliant execution by @narendramodi govt--in just 5 months since it exploded, turnaround of #YesBank,tells you how it is done💪
Govt to invest Rs12450Cr in National,United&Oriental Insurance, with their merger being called off for now

23 #CPSEs of govt to invest Rs1.65 lakhCr in FY21

6195.08Cr given as #RevenueDeficit grant by Union,to States

@narendramodi govt working on multiple fronts,despite #Covid
This week #HdfcBank&Bank of Maharashtra cut #MCLR by 20bps, across tenors

SBI cut MCLR by 5-10bps for 3mth tenor,to 6.65%

#SBI's 1yr MCLR is also low@7%

#Repo cut of 135bps in 2019& 115bps in 2020,to 4%,has lowered lending rates& #EMIs,helping middle class&businesses

#Economy
Read 8 tweets
1/9 Today in @cosmos:
@cosmos Hub & Spoke newsletter is out! Stargate, Interchain accounts, liquid staking, and more! Give it a read here 👉bit.ly/2Z7lQYj
✅did you miss the discussion on Liquid Staking? Watch the replay here 🎥youtube.com/watch?v=yJI0jS…
#todayincosmos Image
2/9 Today in @cosmos:
✅new #IBC docs by @fekunze and #IBC team are out! It now contains a section on how to integrate the "default" IBC configuration ( #IBC and #IBC-transfer modules) as well as how to create your own custom #IBC-APP module Browse here ⏩docs.cosmos.network/master/ibc/ove…
3/9 Today in @cosmos:
@terra_money introduces @anchor_protocol, a new yield solution powered by liquid staking derivatives, which is planned to become the building blocks of reliable passive income
Read more about it here⏩medium.com/terra-money/in…
Read 10 tweets
1/12 Today in @cosmos:
✅mayor actualización de Stargat tras el lanzamiento de Cosmos Hub, activará #IBC y otras características como sincronización de estado o módulo de mejora de cadena para @cosmos. Publicación por @Ether_Gavinblog.cosmos.network/cosmos-stargat…
#todayincosmos
2/12 Today in @cosmos:
✅para potenciar el soporte de proyectos a "Stargate", Ethan Frey propone alinear todas las cadenas en un lanzamiento llamado "Launchpad" ya que tener un campo de total soporte de lanzamientos agilizaría el proceso. Detalles 👉discordapp.com/channels/66926…
3/12 Today in @cosmos:
✅el @tendermint_team anuncia a @zcpeng como nuevo CEO que se une a @HarrietIRISnet, CEO de Bianjie/Cofundador de IRISnet, @jaekwon, Fundador de @tendermint_team, Cofundador de @Cosmos y President de @interchain_io como miembros BOD buff.ly/2APnFjl
Read 13 tweets
1/14 Today in @cosmos :
✅"Stargate" upgrade is coming!🚀
🌐Inter-Blockchain Communication (IBC)
🔧Protobuf Migration
⚙️State Sync
⛓️Chain Upgrade Module
⚡️Full-Featured Light Clients
Watch @cwgoes present a high-level overview on this here✅
#todayincosmos
2/14 Today in @cosmos :
✅interested to know more a/ "Stargate" & stay up to date with what comes next?
✨see github's project board ⏩github.com/orgs/cosmosdev…
✨join the #stargate channel on discord ⏩discord.gg/sBbs93H
✨get up to speed @catdotfish
3/14 Today in @cosmos :
💻new Code with Us workshop w/ @alessiotreglia on 22nd June at 10am PDT / 7pm CEST.
Learn how to effectively debug Cosmos SDK apps.
You will get a general overview on debuggers & how to configure them to work with Go data types ⏩cosmos.network/series/code-wi…
Read 15 tweets
#AatmaNirbharBharatAbhiyan
Based on 👇

Land,Labour,Liquidity&Laws that are not isolationist but inclusive

Ease of Doing Business

DBT,JanDhan,Aadhar, Micro Insurance,Ujjwala Yojana, Ayushman Bharat, PM Awaas Yojana,PM FasalBima Yojana,Krishi Sinchai,Swachh Bharat--Key Landmarks
GST,IBC&PSU Bank Recapitalisation in last 6 yrs,have been big reforms

52606Cr given via #DBT to 41Cr #JanDhan holders

Free wheat&rice to 69Cr ration card holders

18000Cr tax refunds given

Free cylinders to 8Cr #Ujjwala holders

#20lakhcrores #COVIDー19
#atmanirbharbharat
Project DevelopmentCells,working for Promotion of Champion Sectors,in States

#MakeInIndia&Upgradation of Industrial Infra,a success&more will be done to #Decongest economy

3376 SEZs&IndustrialParks with 5 lakhhectares,to be ranked& mapped,in terms of readiness for competition
Read 20 tweets
A quick thread on the primitives that make up #ibc. There are four major ones:
1. Clients
2. Connections
3. Channels
4. Packets

🚀👨‍🚀🌔👩‍🚀👇
In IBC, a "Client" is an instance of a lite client for another chain that is committed to state. This piece is fundamental to the function of #ibc. All other primitives rely on clients to prove their data was included in the counterparty chain.

github.com/cosmos/ics/tre…
Once we have a client to prove data, we create a "Connection". This requires 4 transactions, 2 on each chain. The clients are updated throughout to prove the newly committed state on both chains.

github.com/cosmos/ics/tre…
Read 9 tweets
#Insolvency Almost a year since @RBI released the list of 12 large defaulters to be marched to NCLT, and we have seen ONE successful resolution so far. Two, if you count Electrosteel Steels, which exited bankruptcy briefly, only to be pulled back in. Here's a quick check (1/n)
#Insolvency #BhushanSteel NCLT approved Tata @TataSteelLtd's takeover of Bhushan Steel. Tatas offered Rs 35,200 cr to settle the lenders' dues at a 37% haircut. Done deal? Bhushan Steel promoter Neeraj Singhal has filed an objection in the matter, NCLAT hearing on May 21. #IBC
#Insolvency #ElectrosteelSteels resolution plan submitted by @VedantaLimited for Rs 5,320 cr was approved by NCLT, but Renaissance Steel, another contender for the company, is now contesting the bid. NCLAT has ordered a status quo on sale of the company until further hearing.
Read 13 tweets

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