........Thanks to a special dispensation given by the Reserve Bank of India (RBI), approximately Rs 93,000 crore of loans, which should have become NPAs, have remained restructured assets. So, some Rs 18,000 crore of borrowings by Air India and close to Rs 70,000 crore of borrowings of a few state electricity boards (SEBs) have been recast a second time; in addition, RBI allowed banks to restructure around R5,000 crore of unsecured loans to microfinance institutions, not a common practice. Typically, if bankers recast loans a second time, it has to be called an NPA; clearly, if the company hasn’t been able to revive the business the first time, the chances of it being able to do so the next time are relatively slim...........
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