RBI discovers more than $450 million in extra bad loans at Yes Bank

Gross non-performing assets assessed by the Reserve Bank of India were $457 million higher than Yes Bank had disclosed as of March 31

India’s central bank has unearthed more than $450 million in extra bad loans at Yes Bank Ltd., the lender that is contending with a shadow-banking crisis and concerns over soured debt and capital.

Gross non-performing assets assessed by the Reserve Bank of India were 32.77 billion rupees ($457 million) higher than Yes Bank had disclosed as of March 31, the Mumbai-based lender said Tuesday. The bank has already classified 12.59 billion rupees of the divergence as bad loans as on Sept. 30, it said.

An earlier dispute with the central bank over Yes Bank’s reporting of bad debts culminated in