Exclusive: Banks Seek RBI Exemption On SDR Accounts

Gold Silver Reports (GSR) – Banks have approached the Reserve Bank of India seeking an exemption from classifying accounts which were under the erstwhile strategic debt restructuring scheme as non-performing assets, two bankers with knowledge of the matter said.

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In a written communication last week, the Indian Banks’ Association requested the RBI to revise its new stressed asset guidelines so that the accounts that were under the 18-month standstill clause of the SDR scheme may continue to be classified as standard, the bankers told BloombergQuint requesting anonymity.  Neal Bhai Reports (NBR) INDIA

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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