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RBI asked banks to disclose sector-wise advances in financial statements

Jun 19, 2014 17:17 IST

Reserve Bank of India on 18 June 2014 asked banks to disclose sector-wise advances in the Notes to Accounts to the financial statements from financial year 2014-15 onwards.

RBI in its direction asked the banks for disclosure on priority sector such as agriculture and allied activities, advances to industries sector eligible as priority sector lending, services and personal loans and non-priority sector advances such as agriculture and allied activities, industry, services and personal loans.

It also said that the banks may also make disclosure on sub sectors where the outstanding advances exceed 10 percent of the outstanding total advances to that sector.

This step has been taken on the recommendations of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households headed by Nachiket Mor. It will encourage banks to actively manage their exposures to various sectors, including priority sector.

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