The Economic Times Presents ‘Remodel In India’ 2015

The Economic Times realizes the acute need to reinvent newer or refreshed business models, foolproof approach and poignant insights to ensure that distressed companies can be turnaround into profit-making entities that can add to our GDP and growth. The Government of India’s popular ‘Make in India’ policy is aimed at creating new business opportunities that can create employment and uplift the economy. ‘REMODEL IN INDIA’ is our vision and endeavour to offer a platform to discuss ways of reviving the existing ones that would ensure a sustained profitability for the economy. Hence, the conference: ‘REMODEL IN INDIA’- Asset Reconstruction & NPA Management in India’. At a time when the world is still in the process of emerging from the Great Recession of the 21st century’s first decade, the financial health of each and every economy gains supreme importance and Indian economy is no exception. Credit growth is one of the essential elements that can help achieve this and though a strong and sustainable credit growth is crucial for a healthy and profitable asset creation, it brings with it the dangers of creating stressed assets. A report released by the Department of Financial Services in the Finance Ministry in March this year pointed out that over 14 public sector banks faced the severity of stressed assets (Non-Performing Assets and restructured loans) of more than 13.03 per cent of their advances on an average in 2014. Considering the enormous size of the Indian financial industry, this massive increase in its NPAs (Non-Performing Assets) is a cause of serious concern. Stalled projects, delayed policy decisions, economic slowdown and several macro and micro factors related to the supply & demand and mismanagement of funds have been the causes for the same. Needless to say, a high level of NPAs can be a serious drag on the overall performance of an economy as their management and financial resources a