Banks set to crack down on defaulters in RBI’s second list A majority of companies on RBI’s second list of loan defaulters, including Monnet Power and Visa Steel, will be referred to NCLT for bankruptcy proceedings Banks are set to refer a majority of the 28 loan defaulters cited in the Reserve Bank of India’s (RBI’s) second list to bankruptcy courts starting Thursday, as the central bank prods lenders to speedily resolve bad loans clogging their balance sheets. After its first list of 12 large defaulters was sent to banks in June, RBI sent a second list of 28 troubled companies in late August, accounting for Rs 2 trillion of bad loans, asking lenders to find resolution plans for them by 13 December or start insolvency proceedings by December end. The assets of some of the 40 top defaulters are likely to be sold over the next few months as RBI and the government pushes lenders to speed up the resolution of Rs10 trillion of soured loans. This, along with the government’s Rs 2.