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UCBs asked to report exposures above Rs 5 crore

The central bank has issued detailed guidelines for reporting such exposure by UCBs to the CRILC (Central Repository on Information on Large Credits) every quarter. Banks need to submit the data on large exposures within 30 days from the end of the quarter through the XBRL reporting platform of the Reserve Bank of India (RBI).

ET Bureau|
Last Updated: Jan 17, 2020, 11.23 AM IST
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Banks may put in place appropriate systems to be in readiness to submit the return on a more frequent periodicity.
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MUMBAI: Urban cooperative banks (UCB) will now have to report every quarter their individual loan exposures exceeding Rs 5 crore, with the banking regulator strengthening its oversight on these localised lenders in the aftermath of the PMC blowout.

The central bank has issued detailed guidelines for reporting such exposure by UCBs to the CRILC (Central Repository on Information on Large Credits) every quarter. Banks need to submit the data on large exposures within 30 days from the end of the quarter through the XBRL reporting platform of the Reserve Bank of India (RBI).

Banks may put in place appropriate systems to be in readiness to submit the return on a more frequent periodicity.

The reports need to detail three broad heads - exposure to large borrowers, reporting of technically/ prudentially written-off accounts, and reporting of balance in current accounts. The regulator has also warned that UCBs need to take utmost care about data accuracy and integrity while submitting the data on large credits, failing which they could face penal action.

Even large commercial banks, such as State Bank of India, have been fined for not fully complying with the CRILIC requirement.

On December 27, the central bank mandated that all UCBs with total assets of Rs 500 crore and above shall report credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposure of Rs 5 crore and above. The central bank also clarified that aggregate exposure shall include all fund-based and nonfund based exposure, including investment exposure on the borrower. UCBs need to submit the data in CRILC from the quarter ended December 31, 2019.

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