First Notes - 10 February 2014

First Notes - 10 February 2014

RBI circular on utilisation of floating provisions

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The Reserve Bank of India (RBI) has released a circular dated 7 February 2014, under which it has permitted banks to utilise up to 33 per cent of countercyclical provisioning buffer/floating provisions held by them as on 31 March 2013, for making specific provisions for non-performing assets, as per the policy approved by their Board of Directors.  

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