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Sebi tightens norms for listed banks on bad loan disclosures

Accordingly, the market regulator has decided that "listed banks shall make disclosures of divergences and provisioning beyond specified threshold, as mentioned in aforesaid RBI notifications, as soon as reasonably possible and not later than 24 hours upon receipt of the Reserve Bank's Final Risk Assessment Report (RAR), rather than waiting to publish them as part of annual financial statements".

Reported by: PTI New Delhi Updated on: October 31, 2019 18:02 IST
Reserve Bank of India, Securities and Exchange Board of India
Image Source : PTI

This new framework will come into force with immediate effect

 Markets regulator Sebi on Thursday asked all listed banks to make disclosures about any divergence in provisioning of bad loans beyond specified threshold within 24 hours of receiving a risk assessment report from the Reserve Bank.The decision has been take in consultation with the Reserve Bank of India (RBI), the Securities and Exchange Board of India (Sebi) said in a circular.

Accordingly, the market regulator has decided that "listed banks shall make disclosures of divergences and provisioning beyond specified threshold, as mentioned in aforesaid RBI notifications, as soon as reasonably possible and not later than 24 hours upon receipt of the Reserve Bank's Final Risk Assessment Report (RAR), rather than waiting to publish them as part of annual financial statements".

This new framework will come into force with immediate effect, it added. 

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