This was conveyed to the central bank during a meeting convened by RBI deputy governor Jagdish Capoor to review the progress in implementation of the R V Gupta committee recommendations on credit delivery to the farm sector. Chairmen and managing directors, executive directors and other senior executives of the banks who attended the meeting reported that they had initiated action for implementing the recommendations and that internal monitoring mechanisms at senior level had been set up in each bank to speed up the process of adhering to the recommendations.

RBI, which had earlier accepted the recommendations and directed banks to implement them, was also informed that many banks had started disbursing loans in cash and had introduced Kisan Credit Card, while otherswere in the process of introducing it. Bankers said procedural aspects such as application forms, collaterals and obtaining no-due certificates have been streamlined.