Current Affairs - Banking - Discussion

The Reserve Bank of India cleared Yes Bank of Divergence charges i.e. disparity in reporting bad loans and provisioning numbers for the year ended March 2018. The final report has observed nil divergence in the bank's asset classification and provisioning from the norms of the RBI. In FY16, after its first assessment, Yes Bank was found divergence of Bad loans by RBI at Rs. 4,176 crore higher than the reported gross NPA of Rs. 748.9 crore. Further, in FY17, Yes Bank was found to be divergence again at Rs. 6,355 crore and reported gross NPA of Rs. 2,018 crore lower than RBI's estimation of Rs. 8,373 crore.