The Banking Act 2004 sets out the duties of external auditors which, among others, requires them to report any breach of regulations and or material issues to the Bank as well as to certify that the financial statements represent a true and fair picture of the affairs of the financial institutions.
Since the loan management in banks is in their operational domain, banks were exhorted to keep abreast of the developments in this regard and dovetail / modify their business strategies in the light of developments. Apart from this, even internal efforts to make their day-to-day operations cleaner, greener and more efficient can help.