I have earlier stressed that the real test of performance, efficiency, internal stability and governance improvement in public sector banks (PSBs) would be their ability to access capital markets rather than looking at the Government as a recapitaliser of first and last resort. 11.
Despite certain teething problems, the Insolvency and Bankruptcy Code (IBC) is proving to be 2/6  BIS central bankers' speeches  a game changer. New norms for resolution of stressed assets framed in June 2019 by the Reserve Bank provide incentives for early resolution, with discretion to lenders on resolution processes.