BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Monday, April 18, 2016

RBI Requires Bank 100% Provisions For Fraudulent Loans

The Reserve Bank of India (RBI) has asked banks to make provisions for the entire amount of loans extended to an entity, in case fraud is detected. 

In a circular issued on Monday, the RBI said that banks will, however, be allowed to adjust the financial collateral applicable under Basel 3 rules while providing for such accounts. 

The central bank said lenders will be allowed to spread the provisioning for such fraudulent accounts over no longer than four quarters. 

The rules come at a time when there have been local media reports about the discrepancy in food grain stockpiles purchased through bank loans by the Punjab state government, leading to speculation that the loans may go bad.

No comments:

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">