Business News
Home > Business News
Banks allowed to tap floating provisions for NPA cover(1
TIWN
TIWN
PHOTO : TIWN
Mumbai, May 5 (TIWN) The Reserve Bank of India (RBI) on Wednesday provided big relief to banks that fear increased provisioning for non-performing assets (NPA) amidst the pandemic would seriously dent their capital.
In order to mitigate the pandemic related stress on banks and as a measure to enable capital conservation, the RBI has now allowed banks to utilise 100 per cent of floating provisions or countercyclical provisioning buffer held by them as on December 31, 2020 for making specific provisions for non-performing assets.
Add your Comment
Comments (0)
More Business News
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report