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The extension in the timeline provided by RBI would allow entities a smoother adoption of the tightened norm, if they look to align their reporting. NBFCs carry adequate provisions in the form of overlays, HFCs however have a lower buffer.
The Reserve Bank of India has imposed a monetary penalty of Rs 2 lakh on the Hyderabad District Co-Operative Central Bank Ltd., Hyderabad, Telangana.
Reserve Bank of India (RBI) has allowed some relaxation for lenders -- including non-banking financial companies (NBFCs) -- to comply with its new regulations for upgrading non-performing assets (NPAs) as standard ones but upon clearing all dues. The Reserve Bank on Tuesday had extended the time limit for asset classification till September 30, 2022 as against the previous deadline of December 31, 2021.
In all cases, the discrepancies were revealed in the inspection report of the banks based on their financial position as on March 31, 2020.
An account of K.R. Shenoy's life gives us glimpses of a significant phase of Indian banking, one which had far more dynamism than it usually gets credit for.