Finally, it documents empirically how Indian banks under the PCA framework are being restored back to health through better capitalisation, preservation of capital, and provisioning for losses. I would like to thank the Indian Institute of Technology (IIT), Bombay, and in particular, Professor Pushpa Trivedi, who inspired me to pursue Economics and Finance, for inviting me back to IIT, my undergraduate alma mater.
It is always an occasion of great pride and immense satisfaction for me to return to the Powai campus and be reminded of what I learnt here – the importance of identifying big problems to solve, approaching them with an analytical mindset, scything through seemingly attractive but incomplete fixes, and in the process, discovering durable solutions that address the root causes underlying the problems.