Here is the best example to demonstrate the beauty of democracy. What has been wrapped up in secrecy for long is going to be revealed. There's is just no chance to beat around the bush this time. On Tuesday, the Supreme Court asked the Reserve Bank of India (RBI) to provide the names of corporate loan defaulters with outstanding debt of at least 5 billion rupees ($73.11 million), as well as details of restructured assets.The RBI would need to provide the information within two months, though it could keep details under "sealed cover", a directive from the Supreme Court said. The directive comes in the wake of a public interest litigation suit seeking to look into loans made by Housing & Urban Development Co (Hudco) to some companies. "We direct the RBI to file a detailed affidavit mentioning about the list of the companies which are defaulters of loans," Chief Justice T. S. Thakur said as he read out the Supreme Court's interim order. The RBI had previously resisted prior court orders to reveal the names of companies who have defaulted, saying to do so risked breaching confidentiality rules. Raghuram Rajan's RBI has got the handle now to bypass the old archaic law that allowed crony capitalists to go scot free in embezzling public money. The country's banking sector, dominated by more than two dozen PSBs, is suffering from its highest stressed-assets ratio in 13 years as an economic slowdown hits company earnings, exposing the sector's history of profligate lending. In Q3FY16, nine PSB have so far reported losses exceeding Rs 11,000 crore. More are to follow suit as they set out to comply with RBI norms and clean up their balance sheet. Written by: M K Shukla (Editor)