The Reserve Bank of India (RBI) has come down heavily on banks for delaying announcements on decisions relating to credit, especially in the case of infrastructure projects. It asked banks to clearly mention the procedure for sanctioning loans and timeframes in this regard, adding banks should institute a mechanism to review pending applications.
“It has been brought to our notice that there have been inordinate delays on the part of banks in conveying credit decisions, leading to delays in project implementation.

Source - http://www.business-standard.com