RBI 2012-13/357
DBOD.No.BP.BC- 68/21.04.048/2012-13
January 1, 2013
The Chairman and Managing Director/
Chief Executive Officer of
All Scheduled Commercial Banks in
Private Sector (excluding Foreign Banks)
Dear Sir,
Review of Circulars Issued to Private Sector Banks on Writing-off of Bad Debts/Losses, Compromise Proposals –Delegation of Powers
Please refer to our circular DBOD.No.BC.148/16.13.100/93 dated August 13, 1993 and DBOD.No.Fol.BC.70/C.581/89 dated February 8, 1989 on the captioned subject.
2. On a review, it has been decided to withdraw the abovementioned circulars. Banksmay, however, continue tobe guided by the guidelines contained in our circular DBOD.No.BP.BC.81/21.01.040/95 dated July 28, 1995 and other relevant instructions in this regard. They may accordingly frame their own policy on writing-off of bad debts and compromise settlements, with the approval of Board of Directors.
Yours faithfully,
(Deepak Singhal)
Chief General Manager-in-Charge
CAclubindia
Guest
Notification No : RBI 2012-13/357Published in Community & General