REG - Axis Bank Ltd - Information on Bank's exposure to select accounts <Origin Href="QuoteRef">AXBK.NS</Origin>

Axis BankAnnouncement

01/09/2017 07:00

RNS Number : 5215P
Axis Bank Limited
01 September 2017
Dear Sir(s),
SUB: INFORMATION ON BANK'S EXPOSURE TO SELECT ACCOUNTS REFERENCED IN RBI DIRECTIONS ON 28TH AUGUST, 2017
The Reserve Bank of India issued directions in their communication dated 28th August, 2017 advising banks to finalise and implement viable resolution plan in select accounts by 13th December, 2017, failing which, insolvency proceedings should be initiated in all the accounts mentioned in the communication and accordingly mandated provisions should be made by 31st March, 2018.
The Bank's exposure status with respect to these accounts as on 30th June, 2017 was as follows:
 The Bank had exposure on 12 of these accounts.
 Total Fund based outstanding of the Bank on these accounts was Rs. 1,843 crores. Non-fund based outstanding was Rs. 649 crores.
 Around 75% of the outstanding was secured.
 Against this outstanding, the provision held was Rs. 862 Crore.
You are requested to take the above on record and bring this to the notice of all concerned.
Thanking you, 
Yours Sincerely,
For Axis Bank Limited
Girish V. Koliyote 
Company Secretary 

This information is provided by RNS
The company news service from the London Stock Exchange
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