Address by Dr K C Chakrabarty, Deputy Governor of the Reserve Bank of India, at the Corporate Debt Restructuring Conference 2012, organized by Centrum Group, Mumbai, 11 August 2012
......Before concluding, I would like to emphasise that resources of the banking sector are precious and limited and they cannot be allowed to be used in an imprudent way. CDR is a necessity especially when economic upturn and downturn are a way of life and part and parcel of business cycles for individual companies. Corporate Debt Restructuring has been in existence for more than a decade in India, and this system has fulfilled its objectives to a large extent. It is a mechanism evolved for preserving......
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