Government set to announce graduate insolvency programme
In the next few weeks, the government is set to launch a Graduate Insolvency Programme, a bespoke academic course - the first of its kind in the world - to create a pool of 45 bankruptcy professionals annually. The course will be similar to those graduating with top honours at the Indian Institute of Management or Indian Institute of Technology. The 27-month programme is expected to set global benchmark for insolvency professionals, as India seeks to extricate about Rs 10 lakh crore in soured loans. By February first week, the Insolvency and Bankruptcy Board of India would launch it as preparations are at an advanced stage, a senior executive with the direct knowledge of the matter.
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