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RBI asks IL&FS lenders to classify loans to firm as non-performing: Report

While the Reserve Bank of India's decision does not come as a big surprise, it means IL&FS's lenders will have to set aside additional capital to provision for the soured loans

Reuters  |  New Delhi 

RBI has asked lenders of Infrastructure Leasing and Financial Services Ltd (IL&FS) to classify loans extended to the bankrupt shadow banking firm as non-performing, two sources with direct knowledge of the matter told Reuters on Tuesday. While the Reserve Bank of India's (RBI) decision does not come as a big surprise, it means IL&FS's lenders will have to set aside additional capital to provision for the soured loans. Bad loans at Indian banks reached a record $150 billion at the end of March, with state-run banks accounting for the lion's share. The huge pile of bad ...

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First Published: Tue, January 08 2019. 23:02 IST
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