Yes Bank discloses bad loan divergence for FY19. Yes Bank Ltd. today informed the exchanges that the Reserve Bank of India found under-reporting of bad loans at the bank in 2018-19. The regulator had previously detected a divergence in the assessment of bad loans in FY16 and FY17 but none in FY18.
In FY19, according to the private lender’s exchange notification, the RBI assessed the level of gross non performing assets at Rs 11,159 crore. The bank had disclosed gross NPAs of Rs 7,882 crore, implying a divergence of Rs 3,277 crore or 41 percent.
The divergence in reporting of net NPAs for the year stood at Rs 2,299 crore or 51 percent of the net NPA amount reported by the bank, the notification said.
As per the RBI’s rules, banks are required to disclose any divergence of more than 15 percent. The market regulator recently specified that this divergence should be disclosed to investors within a day of the receipt of RBI’s report.