DBOD No. BC 44 /DL/20.16.001/2001-02

November 15, 2001

The Chairmen/ CMDs/CEOs,
All Scheduled Commercial Banks (excluding RRBs and LABs) and
Notified all India Financial Institutions

Dear Sirs,

Disclosure of information on defaulters

As you are aware banks and Financial Institutions (FIs) have been advised to report to us details of borrowal accounts classified as doubtful and loss and suit-filed accounts of Rs.1 crore and above as on 31 March and 30 September every year, vide our circular DBOD No. BC/CIS 47/20.16.002/94 dated April 23,1994. Further, in paragraph 2 (iii) of our above circular, it was indicated that based on the information so collected, RBI will be publishing in a booklet form the list of suit-filed accounts of Rs. 1 crore and above and an update on a half-yearly basis. Subsequently, banks and FIs were advised to submit, separately, a complete list of suit-filed accounts of Rs. 1 crore and above as on 31 March for publication purposes and quarterly update showing deletion from/addition to the above list, vide revised instructions and format given in Annexure III to our circular DBOD. No. BC/ DL161/20.16.002/99-2000 dated April 1, 2000. We may add that while complete list of suit-field accounts as on 31 March is published in booklet form, this list and its quarterly updates are available in RBI website

2. With a view to avoiding duplication in reporting suit-filed accounts of Rs.1 crore and above under both suit-filed and under NPA (Doubtful and Loss) category, banks and FIs are advised to report, hereafter

• all non-suit-filed doubtful and loss accounts of Rs.1 crore and above as per instructions/format given in Annexure I
• all suit-filed accounts of Rs 1 crore and above in Part (A) of Annexure III and
• quarterly updates of suit-filed accounts in Part (B) of Annexure III to our circular dated April 1, 2000 mentioned above.

3. Other instructions remain unchanged.

4. Amendment slip is enclosed.

5. Please acknowledge receipt.

Yours faithfully,

(J.G.Gupta)

 

Amendment Slip No.1

(DBOD No.BC.44/DL/20.16.001/2001-02 dated 15th November 2001)

The following consequential amendment may be carried out to the Return/Statement No.19 item II (6) of volume II of the Manual as statement No. 20(D) in volume II of the Manual:

Information is to be submitted to the Reserve Ban of India

1. by the 15th April and October showing the position of defaulting borrowal accounts of Rs. 1 crore and above (against which banks have not filed suits), classified as doubtful and loss as on 31st March and 30th September respectively of every year, and
2. by the 15th April showing the position of defaulting borrowal accounts of Rs. 1 crore and above against which banks have filed suits, as on 31st March every year, and by the 15th of July, October and January, the updates of the suit-filed accounts for the quarters ended 30th June, 30th September and 31st December respectively of every year.