ICA Framework is part of project ‘Sashak’. Under it, lead lender (having highest exposure) will be authorised to formulate resolution plan for operation turnaround of assets which will be presented to lenders for their approval.

• It will be applicable to all corporate borrowers who have availed loans and financial assistance for amount of Rs. 50 crore or more under consortium lending or multiple banking arrangements.
• The decision making under ICA framework will be by way of approval of majority lenders i.e. lenders with 66% share in aggregate exposure.
• Once resolution plan is approved by majority lenders, it will be binding on all lenders that are party to ICA.
• The plan formulated under ICA will be in compliance with RBI norms and all other applicable laws and guidelines. Banks opposing resolution plan will have option to sell their stressed loans to company at discount or buy out loans to that entity from all other lenders at premium.