Provisioning pertaining to Fraud Accounts

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ircular on Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2014, in terms of which, in accounts where there are potential threats for recovery on account of erosion in the value of security or non -availability of security and existence of other factors such as frauds committed by borrowers, the asset classification, and consequent .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ting a fraud, or provisioning thereagainst. 3. We reiterate that banks must scrupulously adhere to the guidelines contained in circular DBS.CO.CFMC.BC.No.1/23.04.001/2014-15 dated July 1, 2014 on Frauds Classification and Reporting . Yours faithfully, (Sudarshan Sen) Chief General Manager-in-Charge - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X