A good start

Build capacity to support the RBI's bold decisions on NPAs

The Reserve Bank of India (RBI) has made an important start towards tackling India’s bad debt problem. On Tuesday, the independent advisory committee that the RBI has set up to advise on loan resolution chose 12 large non-performing accounts for resolution under the Insolvency and Bankruptcy Code (IBC). These chosen accounts together make up 25 per cent of India’s gross non-performing assets (NPAs) and they will now be subject to the resolution provisions of the new IBC. This is a welcome move, and it comes with refreshing speed a month or so after the RBI was empowered to create the