The bankruptcy process has been plagued by poor recoveries and long delays with public sector banks sustaining huge write-downs. But it's a new symptom of an old problem, Debashis Basu suggests. “The fact is the massive bad loans are due to deep corruption and the nexus between bankers, businessmen, and politicians in PSBs.
It is the same corruption in PSBs which is now allowing the IBC to be gamed.” Read his analysis of the troubled IBC process here

In other views:

Ajit Balakrishnan wonders whether the deepening institutional acceptance of Work from home will bring far-reaching social change as well. Read it here The top edit explains why the new global tax agreement, to which India has signed on, may need to be scrutinised and negotiated carefully so that investment-attracting incentive mechanisms and alternative tax rates are not ruled out. Read it here The second edit says the Indian government urgently requires to have a clear medium-term economic road map to guide the economy out of it's the slump induced by the second wave. Read it here Intense lobbying has broken out over the question of banning cryptocurrency. Right now, it looks like a T20 match and we'll have to wait till the last over is bowled to figure out where India stands, writes Tamal Bandyopadhyay. Read it here

QUOTE OF THE DAY

“Why is the Modi government not ready for a JPC probe? Guilty conscience; Saving friends; JPC does not want a Rajya Sabha seat. All of these are right.” Rahul Gandhi on the probe by the French government on the Rafale deal