Which one of the following statements best reflects the most logical, rational and practical suggestion implied by the passage given above ?

Correct Option: (d) Indian banking system requires structural reforms as a long-term solution for bad loans problem.

Passage 3 discusses how resolution of bankruptcy cases under the Insolvency and Bankruptcy Code and recapitalisation of public sector banks help control non-performing assets (NPAs) and clean bank books. However, it emphasizes that these measures are only partial solutions because they do very little to rein in reckless lending. The author concludes that 'Unless there are systemic reforms that address the problem of unsustainable lending, future credit cycles will continue to stress the banking system.' Therefore, the most logical suggestion implied is that the Indian banking system requires structural reforms as a long-term solution for the bad loans problem. Option (d) perfectly captures this. Options (a), (b), and (c) are either narrow or not supported as the primary long-term structural solution.