Sitharaman vows to extend reforms, focus on IBC and PSB professionalisation

Union Finance Minister, Nirmala Sitharaman on February 2 said the government will continue with key reforms such as the Insolvency and Bankruptcy Code (IBC) and professionalisation of public sector banks (PSBs).

"Despite the odds, we are doing a lot of reforms which are baring results. Systematic reforms have continued, whether it was pre covid GST or IBC and professionalisation of public sector banks and so on, " Finance Minister Nirmala Sitharaman told Editor-in-Chief Network18 Rahul Joshi in an exclusive interview.

"Macroeconomic stability has been very well kept up. Rating agencies should look at all things comprehensively rather than looking at one thing," the FM added.

The Insolvency and Bankruptcy Code (IBC), brought forth in 2016 was proposed as a one-stop solution for efficiently resolving claims regarding insolvent companies and to combat the bad loan problem that encumbers banks and other financial institutions.