To help banks recover their bad loans, RBI will soon herald a Strategic Debt Restructuring regime to help banks take control of distressed listed firms, after market regulator Sebi relaxed its norms for such cases. At RBI's request, the Securities and Exchange Board of India (Sebi) has agreed to ease its norms for lenders to convert their debt into equity in distressed listed companies, following which banks may not need to make the mandatory open offer in case of acquiring control in such entities.

Source - http://economictimes.indiatimes.com