Axis Bank intimates on exposure to select accounts

With reference to RBI directions on 15 June 2017

The Reserve Bank of India issued directions in their communication dated 15 June 2017 advising banks to initiate insolvency resolution process in select accounts under the provisions of the Insolvency and Bankruptcy Code, 2015 (IBC).

The Bank's exposure status with respect to these accounts as on 31s March, 2017 was as follows:

The Bank had exposure on 8 of these accounts.
Total fund based outstanding of the Bank on these accounts was Rs. 5,071 crore. Non-fund based outstanding was Rs. 212 crore.
Around 80% of the outstanding was secured.
Against this outstanding, the provision held was Rs. 2,497 crore.

 

Powered by Capital Market - Live News