advised the banks to put in place a robust mechanism for early detection of signs of distress, and implement measures to preserve the economic value of assets.
To arrest the steep rise in bad loans, the RBI in the report has directed banks to share information on credit exposure among themselves on real-time basis and warned of punitive measures in case of failures, including penalties.
The directive comes at a time when banks are seeing a surge in corporate debt restructuring cases and bad loans.
The RBI on October 30 had asked banks to set aside more money for every standard restructured loan - from 2 per cent in the past to 2.75 per cent.
So far in 2012, the number of loan recasts rose to 101 cases, according to information available with the CDR cell.
The CDR cases include the Rs 31,000 crore of Air India and Rs 1.9 lakh crore of state-run discoms.
Till September, banks restructured loans worth Rs 2.5 lakh crore, out of which as much Rs 1.6 lakh crore worth loans were restructured under the corporate debt restructuring (CDR) scheme.
The number of CDR cases since the beginning of this year crossed the century-mark as on September 30, involving a collective debt amount of close to Rs 64,000 crore, as per the data available with the CDR cell of bankers.
Besides, 51 more cases, worth Rs 45,000 crore, have been approved for recast at the end of September quarter.
The CDR cell was set in 2001 to help corporates facing financial difficulties due to "factors beyond their control and due to certain internal reasons."
As per the latest data available with the CDR cell, a total of 466 cases, involving total debt of Rs 2.46 lakh crore , have been referred to it since its inception.
During the first half of the fiscal, as many as 74 cases worth about Rs 40,000 crore were referred to the CDR cell-the highest ever so far.
In the entire last fiscal, there were 87 CDR cases with an aggregate debt of about Rs 68,000 crore referred for CDR.