In recent months, there have been several reports on platform workers demanding greater worker rights in India.
In this policy brief, we compare the design and historical experience of Bad Banks in other jurisdictions with the newly setup NARCL across dimensions relating to legal character, government control, objectives, funding sources, resolution process and level of haircuts. We perform this analysis for the Resolution Trust Corporation in US, Securum and Retrieva in Sweden, Korea Asset Management Company in South Korea and Fondo Bancario de Protección al Ahorrro in Mexico. Using the insights from our comparative analysis, we identify certain design flaws in NARCL and propose some policy measures to rectify them.
This brief reviews the literature on the finances of platform workers in India and around the world.