The Reserve Bank of India (RBI) on Friday said it would strengthen current norms on project finance and a comprehensive framework would be issued shortly.

“With a view to strengthen the extant regulatory framework governing project finance and to harmonise the instructions across all regulated entities, the extant prudential norms for projects under implementation have been reviewed,’’ RBI governor Shaktikanta Das said on Friday.

Details of the proposed changes will be known once the central bank releases the draft guidelines.

At present, the RBI says that for all projects financed by the financial institutions or banks, the date of commencement of commercial operations of the project should be clearly spelt out at the time of financial closure of the project and this should be formally documented.

These should also be documented in the appraisal note by the bank during the sanction of the loan. If completion of the projects is delayed, there are asset classification norms for project loans or infrastructure sector and those for the non-infrastructure sector.

In a separate measure, the central bank doubled the lending limits for gold loans under the bullet repayment scheme for urban cooperative banks to Rs 4 lakh. A bullet repayment scheme is one where a borrower repays interest and the principal amount at the end of a loan tenure without worrying about repayment during the loan tenure.