Bankruptcy is an important ingredient in fixing our Rs 10 lakh crore bad loans. (File) Bankruptcy is an important ingredient in fixing our Rs 10 lakh crore bad loans. Bankruptcy is an important ingredient in fixing our Rs 10 lakh crore bad loans, but we shouldn’t rest till we have a self-healing system with zero tolerance in bad loan revealing, recognising and resolving. Consequently, good people and good organisations let a 2 lakh crore bad loan problem 10 years ago become five times larger today. Bankruptcy is an important piece of India’s reform plan across the three big areas of monetary policy, fiscal policy and structural change.

Source: Indian Express May 24, 2018 18:22 UTC