Subservience of big banks to corporate defaulters

.........Banks found an easy way to hide bad loans. Instead of writing off loans or forcing anyone to pay up, they offered an ingeniously named scheme: Corporate debt restructuring. Those who could not pay were given a moratorium, maybe a year or two, on payments, after which they could repay at lower interest rates. A part of the loan became equity, meaning banks became shareholders in these failing companies..............

Read - Hindustan Times