Defaulting promoters must be barred from bidding: Axis Bank chief

Axis Bank chief Shikha Sharma said that there is 'some conversation' on this aspect already

Axis Bank chief Shikha Sharma has said called for creating a better credit culture for the long-term benefits and opined that one way to achieve that is to debar defaulting promoters from bidding for their assets during insolvency proceedings.

With the Reserve Bank doing away with all the past dispensations to resolve the bad loan problem, and voting for initiation of insolvency proceedings against erring borrowers, there is a need to strengthen the National Company Law Tribunals (NCLTs), she said.

"Certainly a lot more cases are going to go to the NCLT; so it is important that their capacity is