RBI mandates disclosures of details of divergence in asset classification & provisioning for Primary UCBs
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- Last Updated on 14 October, 2022
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Circular No. RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23, dated: 11.10.2022
Earlier, the commercial banks (excluding Regional Rural Banks (RRBs)) were required to disclose details of divergence in asset classification and provisioning where such divergence assessed by the Reserve Bank of India (RBI) exceeds certain specified thresholds; Now, RBI mandated similar disclosure requirements for Primary (Urban) Co-operative Banks (UCBs) also and revise the specified thresholds for commercial banks. Further, these instructions shall come into effect for disclosures in the notes to the annual financial statements of the year ending March 31, 2023, and onwards.
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