RBI asks banks to disclose sector-wise loans from next fiscal

Tags: News
The RBI today asked banks to make sector-wise disclosure of their advances from 2014-15 onwards with a view to encourage them to actively manage exposure to various segments.

"Banks are advised to disclose sector-wise advances in the ‘Notes to Accounts’ to the financial statements as per the format...From the financial year 2014-15 onwards," the RBI said in a notification.

Banks may also disclose advances to sub sectors where the outstanding advances exceeds 10 per cent of the total advances to that sector, it said.

For instance, if a bank's outstanding advances to the mining industry exceed 10 per cent of the total advances to industry sector, it should disclose details of its outstanding advances to mining separately in the format above under the industry sector, it added.

This disclosure requirement has been added based on recommendations of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households under chairmanship of Dr. Nachiket Mor to encourage banks to actively manage their exposures to various sectors, including priority sector.

EDITORIAL OF THE DAY

  • The govt must get more citizens into the tax net to curb black money

    Prime minister Narendra Modi’s mild warning to black money hoarders to come clean by September is timely, but not enough.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

The shame of rejecting our women

Recently, three young women broke into the elite male basti­on ...

Rajgopal Nidamboor

The rainbow fusion of our being

Our mind isn’t a metaph­or. It is part of a ...

Dharmendra Khandal

The unfortunate death of a tigress & its repercussions

In nature it is not easy to gather investigative evidences, ...