The committee is attempting to provide a multi-pronged approach to tackle nonperforming assets (NPA), said Sunil Mehta, non-executive chairman, Punjab National Bank and head of the committee on bad loans resolution.

"There is a different approach to the smaller exposure, there is a different strategy for mid-sized and for the larger ones," Mehta said.

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In the case of small and medium-sized enterprises (SMEs), the committee has clearly articulated that the process will be 90-days time-bound, Mehta said.

"We have provided the ingredients and the template," he said, adding that it is the duty of oversight committee — which will look into the process — to make sure that the decisions are being made as per the template and provide the support to the decision makers.

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The Sunil Mehta committee on Monday submitted the report to the finance ministry and recommended a five-pronged strategy — Project 'Sashakt' — to deal with NPAs in the country's banking system.

The committee also backed the government plan for a bad bank to fight the bad loan menace by setting up an asset management company/asset reconstruction company.