A functioning consumer bankruptcy code can help those Indian debtors who are paying back with their lives

Earlier this year, the Indian government presented figures to the parliament on the number of suicides caused by financial distress in the country. Bankruptcy was shown as an important cause of such deaths. Raman Singh Chhina argues below that, while no panaceas are available, the government can provide more effective help to people who are unable to pay back debts due to negative life events by implementing and systematically improving the proposed consumer bankruptcy code instead of resorting to ad hoc and politically-motivated debt-waivers and other such debt-relief packages.