Top business houses spread themselves too thin: Centrum Group exec chairman

'There is difference between building a refinery and an app-based business' Jaspal S Bindra

The Insolvency and Bankruptcy Code (IBC) will ensure that old business houses that have invested in multiple areas will cut back and refocus on their core competencies, says JASPAL S BINDRA, executive chairman, Centrum Group. In an interview with Anup Roy, the former Standard Chartered Bank’s Asia chief says the loss of old-school entrepreneurs would be irreplaceable because new ones do not generally want to build something physical but something virtual. Edited excerpts:  

After the Punjab National Bank episode, the banking system seems to be becoming risk-averse. Do you think credit growth will suffer? 
 

There is credit demand in