The measures include: •  Framework for “Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalizing Distressed Assets in the Economy covering formation of Joint Lenders’ Forum (JLF), Corrective Action Plan (CAP), ‘Refinancing of Project Loans’, ‘Sale of NPAs by Banks’ to facilitate early recognition/resolution of financial distress  •  Banks permitted to grant an extended debt repayment period to their borrowers in long-gestation projects (‘5/25’ scheme)  •  Banks enabled to take steps for Strategic Debt Conversion (SDR) giving them the right to convert their outstanding loans into a majority equity stake if the borrower fails to meet conditions stipulated under the restructuring package  •  Enhanced fraud monitoring framework  10.
Perhaps it may be easier to identify the elements of unacceptable behaviour and try to redress and improve the situation. The behaviour standards especially of the front-line managers are implicit in the acceptance of the codes by the banks.