Reserve Bank Governor Raghuram Rajan on Tuesday said there is a need to shift loan sanctioning process from the present committee-based approach to single banker taking up the responsibility. He also suggested for rewarding the person if the project goes on well.Addressing the annual bankers conference in Mumbai, Mr Rajan said, the incentive structure for bankers should be worked out so that they evaluate, design and monitor projects carefully. He said, technology can go a long way in helping arrive at a better due diligence.Mr Rajan said, corporate debt markets, either through direct issues or securitised project loan portfolios, shouldbe used to absorb some of the initial project risks. More such arm's length debt should typically refinance bank debt when construction is over. He also expressed optimism over some of the steps taken to strengthen corporate debt markets, including the new bankruptcy code, should make this possible.