Modi regime keeps bankers on their toes

Big reforms like IBC have been initiated. But the jury is out on whether they would help the domestic banking sector become healthy

The government in August 2015 announced ‘Indradhanush’, a seven-pronged plan to reform public sector banks (PSBs). 

About three years later, much of the action points remain unachieved.

What the government has shown, though, is the political will to support the Reserve Bank of India-initiated clean-up drive of the balance sheets of banks.

Some big reforms in the shape of the Insolvency and Bankruptcy Code (IBC) have been initiated for this. But the jury is out on whether they would help the domestic banking sector become healthy, say experts.

So far, one of the 12 large accounts referred by the Reserve