We've seen financial turmoil in the corporate banking world. It all started with NPA recognition in 2013, which hurt banks because they had to show their losers. The NPA simulation was started by Raghuram Rajan who famously said:
“You can put lipstick on a pig but it doesn’t become a princess. So dressing up a loan and showing it as restructured and not provisioning for it when it stops paying, is an issue. Anything which postpones a problem than recognizing it is to be avoided”
After RBI came in heavily on NPA issues of banks, there . . .