RBI extends deadline to reclassify MF exposure

RBI extends deadline to reclassify MF exposure
Comment E-mail Print Share
First Published: Wed, Dec 23 2009. 10 04 PM IST
Updated: Wed, Dec 23 2009. 10 04 PM IST
Mumbai: The Reserve Bank of India (RBI) on Wednesday extended the deadline to June 2010 for banks to classify loans extended to mutual funds (MFs) as capital market exposure.
The central bank, in its annual financial inspection reports of certain banks and an analysis of the consolidated prudential return of banks had found that some of them had extended large loans to various mutual funds. To introduce prudence, RBI had in December 2007 asked banks to classify such exposures as capital market exposure.
Comment E-mail Print Share
First Published: Wed, Dec 23 2009. 10 04 PM IST