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| Exchange Received Time 21/12/2017 18:28:02 Exchange Disseminated Time 21/12/2017 18:28:08 Time Taken 00:00:06 | In terms of RBI Circular Ref:DBR.DP.BC.No.63/21.04.018/2016-17 dated 18.04.2017, we have disclosed the divergences in the Asset Classification and Provisioning for NPAs in the Notes to Accounts for the year 2016-17 with a footnote stating that 'The Bank has represented and furnished requisite and adequate clarification to reduce the divergence in Gross NPA and divergence in provisioning observed by RBI' as the Bank had represented to RBI in this regard. However RBI has since observed that the justification given by the Bank is on grounds of a development post finalization of their assessment and is therefore not found acceptable.
We are submitting the same for information.
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