 "RBI withdraws circular asking banks to declare their IL&FS exposure")
The Reserve Bank of India (RBI) on Wednesday withdrew a circular asking banks and financial institutions to declare details of their exposure and provisions related to the troubled Infrastructure Leasing & Financial Services (IL&FS).
The April 24-circular has said banks and financial institutions must mention the total amount of exposure that are non-performing assets (NPAs) to the IL&FS.
The RBI withdrew the circular after the National Company Law Appellate Tribunal (NCLAT) allowed banks to declare defaulting loans of IL&FS and its group companies as bad loans.
“In view of the National Company Law Appellate Tribunal’s (NCLAT) order dated May 2,
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