(ii)  Early formation of a lenders’ committee (Joint Lenders Forum) with timelines to agree to a plan for resolution; mandatory beyond the exposure of ₹ million and above.
The Corrective Action Plan may include any one of the following: a)  Rectification  b)  Restructuring  c)  Recovery  (iii)  Incentive and disincentive structure for lenders to take corrective actions in a timely manner  (iv)  Incentives for lenders to agree collectively and quickly to a plan: better regulatory treatment of stressed assets if a resolution plan is underway, accelerated provisioning if no agreement can be reached.