RBI withdraws mandate on IL&FS NPAs

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  • Following the National Company Law Appellate Tribunal’s decision to allow banks to declare NPAs of Infrastructure Leasing & Financial Services Limited and its group entities, the RBI has now withdrawn its circular.
  • The circular mandated to disclose bad loans of the IL&FS group in its notes of accounts.
  • Previously, RBI had asked banks and financial institutions to disclose the NPA.
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