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Provisioning pertaining to Fraud Accounts

RBI - DBR.No.BP.BC.92/21.04.048/2015-16 - Dated:- 18-4-2016 - RBI/2015-16/376 DBR.No.BP.BC.92/21.04.048/2015-16 April 18, 2016 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Please refer to circular DBR.No.BP.BC.83/21.04.048/2014-15 dated April 1, 2015 on the captioned subject. On a review, it has been decided to amend the provisioning norms in respect of all cases of fraud, as under: Banks should normally provide for the entire amount due to the bank or for which the .....

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a period, not exceeding four quarters, commencing from the quarter in which the fraud has been detected; Where the bank chooses to provide for the fraud over two to four quarters and this results in the full provisioning being made in more than one financial year, banks should debit 'other reserves' [i.e., reserves other than the one created in terms of Section 17(2) of the Banking Regulation Act 1949] by the amount remaining un-provided at the end of the financial year by credit to prov .....

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