Crony capitalism in India will come to an end with the new bankruptcy code though it was facing some teething troubles, Niti Aayog CEO Amitabh Kant said. “Insolvency and Bankruptcy Code (IBC) will ensure that the world of crony capitalism comes to an end. Earlier, you could borrow and not repay. Now if you don’t pay, you lose your business,” Kant said highlighting the major structural reforms introduced by the Modi Government.

(Economic Times)