In order to mitigate the adverse impact of COVID 19 related stress on banks, as a measure to enable capital conservation, the RBI has allowed banks to utilise 100 per cent of floating provisions/ countercyclical provisioning buffer held by them as on December 31, 2020 for making specific provisions for non-performing assets with prior approval of their Boards.In order to mitigate the adverse impact of COVID 19 related stress on banks, as a measure to enable capital conservation, the RBI has allowed banks to utilise 100 per cent of floating provisions/ countercyclical provisioning buffer held by them as on December 31, 2020 for making specific provisions for non-performing assets with prior approval of their Boards.taxmann.com Latest Statutory HappeningsRead More
