Why are banks getting slapped and smacked so hard? The problem really is of two sorts. One is with the Supreme Court order that removes the relaxation for declaring NPAs. Slowly the news has started to trickle in about the nature of NPAs and also the relatively lower credit growth in the quarter. Also if there is another series of lockdowns, that will increase both retail and SME stress. Till now, we have been worried about corporate stress. Now we are going to have to worry about retail and SME where most of these private banks have shifted their focus after moving away from corporate credit.