RBI tells banks, financial institutions to disclose exposure to IL&FS

The Reserve Bank of India (RBI) has asked banks and financial institutions to declare details of their exposure and provisions related to the troubled Infrastructure Leasing & Financial Services (IL&FS). It said banks and financial institutions must mention the total amount of exposure that are non-performing assets (NPAs) to the IL&FS.
 
In the matter between the IL&FS and the Ministry of Corporate Affairs, the National Company Law Appellate Tribunal (NCLAT) had earlier stated that no financial institution can declare the accounts of the IL&FS or its group entities as NPAs without prior permission of the tribunal.
 

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