Edition:
India

Axis Bank Says Asked By RBI To Classify 2 Accounts As NPA With Outstanding Amount Of 2.25 Bln Rupees


Tuesday, 29 Jan 2019 

Jan 29 (Reuters) - Axis Bank Ltd ::BANK HAS RECEIVED AN INDICATIVE LIST FROM RBI RELATING TO ASSET QUALITY DIVERGENCE FOR THE FISCAL YEAR ENDING 31ST MARCH 2018..BANK HAS BEEN ASKED BY RBI TO CLASSIFY 2 ACCOUNTS AS NPA, WITH AN OUTSTANDING AMOUNT OF 2.25 BILLION RUPEES.RBI ASKED TO MAKE ADDITIONAL PROVISIONS OF 1 BILLION RUPEES ON 2 ACCOUNTS ALREADY NPA AS OF MARCH'18; PROVISION INCORPORATED IN Q3 FINANCIALS.RECOVERED 9.98 BILLION RUPEES THIS QUARTER LARGELY COMPRISING OF 2 ACCOUNTS FROM PRUDENTIALLY WRITTEN OFF POOL, COMPARED TO 400 MILLION RUPEES IN Q3FY18.