Essar steel exposure: RBI allowed banks reprieve on 100% provisioning in Q2 – The Financial Express

Lenders may repeat request for December quarter if the account does not get resolved in Q3 or, at least, in early JanuaryEssar Steel exposure: RBI allowed banks reprieve on 100% provisioning in Q2The Reserve Bank of India (RBI) had allowed banks a dispensation from maintaining 100% provisions against their exposures to Essar Steel in the July-September quarter, two senior bankers said. The regulatory relief had been granted on a joint request from banks, who were expecting a full resolution in t...
More