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Sebi asks banks to disclose bad loan divergence to stock exchanges

LiveMint logoLiveMint 18-07-2017 Alekh Archana

Mumbai: Securities and Exchange Board of India (Sebi) on Tuesday instructed banks to disclose to stock exchanges bad loan divergence immediately, along with the annual results, after they receive communication over such difference from the Reserve Bank of India (RBI).

In an 18 April directive, the RBI had asked bank to make such disclosure in case assessment of gross bad loans by the central bank exceed 15% than those reported by the lenders. The disclosures were mandated to be made in the notes to account part of their financial statements.

ICICI Bank, Axis Bank, Yes Bank, RBL Bank and IDBI Bank had reported such divergence of bad loans and required provisioning.

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