5 point something: Renegotiation is easier for bigger loans

1. Most large defaulters who benefit have been given lifelines in the past under CDR, SDR, and other schemes. Estimates suggest that almost 1/6th of loans have been declared as non-performing!

2. Often no extension of time or interest waivers are availed to small defaulters, while at least two large steel producers who owe Rs 40,000 crore each will be extended all of these benefits.

3. Some of these large defaulters have restructured their loans while they own yachts, planes, and large estates abroad. Honest income tax payers have funded them because the money that bails them out, comes from our taxes.

4. The government must investigate these restructured loans to ascertain its financial viability and take action against bank officials and borrowers who colluded in cheating the banks out of their money. 

5. Interest rates in India have fallen to a half from its earlier highs. Servicing loans at this interest rate should not be an issue unless the project itself was unviable or the money has been laundered.

The author is a bored Mumbai bachelor. 5 Point Something is all in good fun and not meant to cause offence