The meeting was called to review the progress in implementation of the RV Gupta committee recomendations. Banks reported that they have initiated action for implementing the recommendations. Every bank has set up an internal monitoring mechanism at the senior level to speed up the process of implementation of recommendations.

The power delegated to branch level officials covers nearly 90-95 per cent of the loan applications. Many banks have also started dusbursing loans in cash and introduced the kisan credit card while others are in the process of introducing it, bankers informed theRBI.

Procedural aspects, such as application forms, collaterals and obtaining no-due certificates have been streamlined in keeping with the committee recommendations.

Many banks are also experimenting with composite cash credit and the new loan products with in-built savings module, an RBI press release informing on the outcome of the meeting stated.

According to bankers, rationalisation of internal returns, loan documents and performance appraisals for agricultural loans were being considered at the Indian Bank Association. The committee recommendation on this aspect will be implemented after this.