- Wealth PMS (50L+)
RBI has decided to haul banks up on frauds. Banks are now required to provision the entire amount due to the bank if it is discovered that there is a fraud, with the provision spread over four quarters.
And if there is a "delay" in reporting the fraud - that is, when banks hide frauds from the RBI even after they discover it - they will not even get the four quarter time limit. They have to provision the . . .