The recent scams and investigation cases being carried out around ICICI and Axis bank has make the sector overly cautious. A leading business daily reported that decision on loan grant which were a usual practice and considered a routine work until few weeks ago are getting delayed on account of corruption investigations surrounding various banks both from the public and the private sector.

So, in a case if you too are scouting out for a good loan deal, ensure all your paper work is well in place for quick processing and disbursal.

Also, as per the report, it shall be too early to say whether or not the move will affect uptick in credit growth which is one of the parameters for economic revival.

The events in the recent time be it the huge order PNB-Nirav Modi scam or ICICI Bank chief facing allegation of nepotism has made the private lenders in particular pay more attention to loan viability.

Also, it is at this juncture that RBI too has put in place stringent norms in respect of bad loans. "We will go through a transition where processes will be reexamined. Banks have to go through a phase of introspection which will lead to healthy banks going forward", said CEO of the credit rating firm.

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