Is IBC in ICU?

Senior judges need briefings on economy-wide consequences of their decisions

The overall Indian economic picture has been gloomy for the past several quarters. Discussions on whether the downturn in growth is cyclical or structural distracts attention from specific issues. Abstracting from wider concerns this article focusses on the need to raise long-term lending from current levels to get economic growth back on track. Public sector banks (PSBs) continue to be hesitant about providing project funding or even extending short-term credit to non-banking financial companies (NBFCs).  

The Reserve Bank of India’s (RBI’s) “Report on Trend & Progress of Banking in India 2018-19” dated December 24, 2019 mentions that “although the time