Sure it's looking good to investors, but we, the Indian taxpayers (and domestic investors) are financing the losses incurred in the distress sales. While I understand that the Indian government and the Reserve Bank of India need to get India's banks to write down non-performing assets on their books, the interests of the Indian taxpayer and domestic investors need to be taken into accout. The Indian government needs to ensure that there is no disorderly unwinding of the debt markets that hurts citizens.