Finance Minister Nirmala Sitharaman tells Parliament that the number of wilful defaulters who owe money to public sector banks has risen to 8,582 from 7,535.
Supreme Court has made bankruptcy code the RBI’s second option for resolving bad loans, and abandoned the long-held ‘expert body doctrine’ in jurisprudence.
The right measure to evaluate the IBC is not the yardstick of what happened under SICA or DRT laws, but what is happening now – a 270-day deadline for resolving cases.
There has been a gradual weakening of the RBI, which is a great shame since in the brief time it got to play bad cop, the central bank did some good police work.
We have failed terribly at two important things. One, we are reacting to this issue only emotionally, not logically. And two, we are not asking the right questions.
WhatsApp privacy policy case is among a string of matters involving practices like restrictive platform rules, pricing & billing policies, reflecting India’s tight scrutiny of market dominance.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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