Former Reserve Bank of India (RBI) Governor Urjit Patel’s new book, which was released on Friday, notes that the dilution in the bankruptcy law resulted in disagreements between the central bank and the Union government. The government and other stakeholders wanted the RBI to dilute the February 2018 circular. It was eventually diluted but might affect the ability of the banking system to contain non-performing assets.

Business Standard opinion pieces for the day, among other things, talk about why it’s important for the government to re-examine its approach.

As someone said, it is not enough to have a strong government, you need a strong country.

And for delivering that the Modi administration has to re-examine its approach and start functioning differently, writes T N Ninan

India has failed to respond to the pandemic effectively because its efforts have been disorganised and disparate. And the impulse to divide rather than unite is a primary reason for that, writes Mihir S Sharma

The BJP may be ready and waiting to pounce on another key state of the Hindi heartland, but it is the Congress’s holy trinity that issued them an invitation to the beheading, writes Sunil Sethi

Quote

“The challenges that lie ahead have to be addressed with the overarching objective of preserving long term stability of the financial system, which is critical for nurturing the recovery. Going forward, once we enter the post-pandemic phase, the focus would be on calibrated unwinding of regulatory and other dispensations.”

RBI Governor Shaktikanta Das