Indian Bank reports Rs 1,004-crore divergence in provisioning for bad loans

The bank had reported a provisioning of Rs 6,131.86 crore for non-performing assets, while the RBI had assessed provisions of Rs 7,135.85

Indian Bank has reported a divergence in provisioning of Rs 1,004 crore during the year ended March 31, 2019. The bank had reported a provisioning of Rs 6,131.86 crore for non-performing assets, while the Reserve Bank of India (RBI) had assessed provisions of Rs 7,135.85.

The bank on Friday submitted to the exchanges a report of divergence in asset classification and provisioning for NPAs according to the risk assessment report of the RBI for 2018-19. With a divergence in provisioning, the adjusted notional net loss for the year came to Rs 333.21, against the reported net profit of Rs