This is what the government is now planning to introduce in an explicit manner in the MCA. This is important because even when the MCA talks of refund of debt, more often than not, banks lend far in excess of the termination value of most projects. So, if NHAI values a road at R1,000 crore at the time it is being bid out, banks may lend the project R2,000 crore based on traffic projections. In which case, the promise of a R750 crore refund (assuming at 3:1 debt-equity ratio) doesn't really provide any manner of comfort for the lender. So allowing lenders to step in and replace concessionaires is an important safeguard for lenders. Apart from this, the government is also looking at giving infrastructure debt funds who take over the debt of such projects a senior lender statusthis will go a long way in increasing lender comfort. If banks are to be very largely protected while lending to road projects, there is little reason for RBI to continue to classify them as unsecured loansapart from ensuring loans cost more, banks typically allocate smaller proportions of their portfolios to unsecured loans. The Prime Minister has done well to instruct the roads ministry to ask the PM's Economic Advisory Council, headed by former RBI Governor C Rangarajan, to look into the matter.