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Indian central bank tightens loan disclosure rule for urban cooperative banks

The Reserve Bank of India said Jan. 16 that urban cooperative banks are now required to disclose the information of borrowers with exposures exceeding 50 million rupees on a quarterly basis.

The banks must report all fund-based and non-fund-based exposure, including investment exposure on those borrowers, to the Central Repository of Information on Large Credits through the XBRL reporting platform of the central bank within 30 days after a quarter ends.

The central bank said the reports filed will comprise three sections: exposure to large borrowers, reporting of technically or prudentially written-off accounts and reporting of balance in the current account. Banks failing to comply will face penal action, the central bank added.

The changes should be reflected in the financial reporting for the quarter ended Dec. 31, 2019, according to the notice.