The Reserve Bank of India (RBI) has allowed lenders in its revised guidelines for stressed assets complete discretion to design and implement bankruptcy resolution plans, after the Supreme Court scrapped the previous norms. The central bank will also put in place a system of disincentives in the form of additional provisioning for any delay in implementation of the resolution plans or initiation of insolvency proceedings. RBI has asked lenders to review the working capital loan accounts within 30 days of the first default, instead of just after one day of default previously. However, term loan accounts will continue to follow the one-day default rule. After the 30-day review period is over, lenders must implement a resolution plan within 180 days. This means that lenders will have a total of 210 days from the day of first default to resolve the matter.