At the same time, the guidelines provide for punitive actions on lenders in the form of accelerated provisioning norms if they fail to report the status of distressed accounts to Central Repository of Information on Large Credits (CRILC) or if JLFs are not convened within the stipulated timeframe etc. 13.
The CRILC has been created within RBI to collect, store and disseminate data on all borrowers’ credit exposures including Special Mention Accounts (SMA 0, 1 & 2) having aggregate fund-based and non-fund based exposure of Rs. 50 million and above.