BackSebi asks banks to disclose bad loan divergence to stock exchanges
Sebi instructed banks to disclose to stock exchanges bad loan divergence along with the annual results
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Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday instructed banks to disclose to stock exchanges bad loan divergences 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, RBI had asked banks to make such disclosures if quantum of gross bad loans as assessed by the central bank exceeded by more than 15% as reported by the lenders. The disclosures were mandated to be made in the notes to account part of their financial statements.
ICICI Bank Ltd, Axis Bank Ltd, Yes Bank Ltd, RBL Bank Ltd and IDBI Bank Ltd have reported such divergences of bad loans and required provisioning against them.
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