Prioritise pushing large firms via IBC

India has begun on resolving the corporate balance sheet, and four big firms have completed the process. The data for 2015-16 shows that there were 3,296 large private non-financial firms under a fair amount of credit stress. These added up to bank borrowing of Rs 9.5 trillion and total borrowing of Rs 16.9 trillion. Lenders, the RBI, the Ministry of Corporate Affairs (MCA) and the Insolvency and Bankruptcy Board of India (IBBI) need to move vigorously in order to put this chapter to a close. There is a lot of criticism of the extent to which the IBC (Insolvency and Bankruptcy Code) proc.....

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