Best of BS Opinion: RBI's FI-Index, CoCs need best practices code & more

Here are the best of Business Standard's opinion pieces for Thursday 

The Reserve Bank of India has done well to construct an index to show the extent of financial inclusion in the country. The financial inclusion index (FI-Index) level for March 2021 was at 53.9, compared to 43.4 in March 2017. The reading of 53.9 shows that a large proportion of the population is still outside the formal channels of finance, or is unable to access quality services. In this regard, our lead editorial notes that better access to formal finance would not only help individuals — particularly in the lower-income group — to smoothen consumption and build assets, but also increase financial savings at the aggregate level. Higher aggregate financial savings will help boost investment over time and increase long-term growth potential. Read here

Naushad Forbes argues that an international crisis of the magnitude of our global health pandemic requires that leaders act in the wider interest of humanity.  It is high time we did. Read here 

The recent proposal of a Parliamentary Standing Committee to frame a professional code of conduct for the Committee of Creditors is worth a closer look as it can go a long way in defining and circumscribing their decisions in corporate insolvency resolution cases, writes Shyamal Majumdar. Read more

QUOTE OF THE DAY

 

“The adverse performance of discoms across the country already seem to have gone past the inflexion point, and are showing green shoots of turnaround.”

 

Ministry of Power