MUMBAI, MARCH 27: The board of directors of the new generation private sector ICICI Bank has decided to provide for an additional amount of Rs 13.5 crore ($3 million) under the US GAAP in respect of certain accounts already identified as non-performing assets (NPAs).``This provision is in response to certain developments in March 2000 in connection with certain borrowers, the loans of which were already classified as non performing,'' an ICICI Bank release said here on Monday.
The decision to make additional provision on account of NPAs assumes significance in the context of the Reserve Bank of India inspection team finding fault with its parent ICICI's asset quality.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.