NCP chief Sharad Pawar has sought help from Prime Minister Narendra Modi to resolve the huge bad debt issue plaguing public sector banks. Banking bad debts (or loans recognised as unrecoverable through regular measures) stood at Rs 52,542 crore by March 2015.

In a three-page letter written recently, Pawar is said to support industrialists to restructure their loans. But according to business circles, RBI has put strict conditions.

News in New Delhi's political circles is that Pawar's letter on RBI is the talking point as there is also speculation that he is seeking to mediate between Kingfisher CEO Vijay Mallya and the government.

In his letter, Pawar has stated that the union government has to restore the confidence level of business houses with the present monetary policy of the RBI.