Tata Steel is another corporate that wants to deleverage and bring down its debt levels. Initial plan was to reduce it by $ 1 billion this year. With the corporate tax rate cuts, the firm could raise its target of debt reduction. Many Indian corporates wans to deleverage and we could see lot of money come back to banks. Reliance also wants to deleverage and there are many many corporates who are now afraid of leverage. Destruction of lot of corporates due to high leverage has sent alarm bell ringing. So, in the next couple of years, banks might be awash with funds with no one to lend.