TMI BlogDisclosure of divergence in the asset classification and provisioning by banksX X X X Extracts X X X X X X X X Extracts X X X X ..... enty four hours from the occurrence of event or information. 2. Further, SEBI (Prohibition of Insider Trading) Regulations, 2015 ( SEBI PIT Regulations ), mandates prompt disclosure of unpublished price sensitive information that would impact price discovery no sooner than credible and concrete information comes into being. 3. RBI vide Notification No RBI/2016-17/283; DBR.BP.BC.No. 63/21.04.018/ 2016-17 dated April 18, 2017 and amended Notification No. RBI/2018-19/157;DBR.BP.BC.No.32/21.04.018 /2018-19 dated April 1, 2019 mandated banks to disclose certain cases of divergence in the asset classification and provisioning in the Notes to Accounts in the ensuing Annual Financial Statements published immediately following ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. SEBI s circular CIR/CFD/CMD/80/2017 dated July 18, 2017 and amended circular CIR/CFD/CMD1/79/2019 dated July 17, 2019 are withdrawn. 8. The Stock Exchanges are advised to bring the provisions of this circular to notice of all banks which have listed specified securities and also to disseminate it on their websites. 9. This circular shall come into force with immediate effect. 10. The circular is issued under Regulation 30 and 101 of SEBI LODR Regulations. 11. The circular is available on SEBI website at www.sebi.gov.in under the category 'Legal Circulars'. Yours faithfully, Pradeep Ramakrishnan General Manager Compliance and Monitoring D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e in provisioning (8-7) 10. Reported Net Profit after Tax (PAT) for the year ended March 31, 20XX 11. Adjusted (notional) Net Profit after Tax (PAT) for the year ended March 31, 20XX after taking into account the divergence in provisioning * March 31, 20XX is the close of the reference period in respect of which divergences were assessed - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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