Axis Bank Regs Regulatory News (AXB)

29th June, 2017 

Dear Sir(s),

Sub: Information on Bank's exposure to select accounts referenced in RBI directions on 15 June, 2017

The Reserve Bank of India issued directions in their communication dated 15th June, 2017 advising banks to initiate insolvency resolution process in select accounts under the provisions of the Insolvency and Bankruptcy Code, 2015 (IBC). 

The Bank's exposure status with respect to these accounts as on 31st March, 2017 was as follows:

· The Bank had exposure on 8 of these accounts.

· Total fund based outstanding of the Bank on these accounts was Rs. 5,071 Crore. Non-fund based outstanding was Rs. 212 Crore.

· Around 80% of the outstanding was secured.

· Against this outstanding, the provision held was Rs. 2,497 Crore.

You are requested to take the above on record and bring this to the notice of all concerned.

Thanking you,

Yours Sincerely,

For Axis Bank Limited

Girish V. Koliyote

Company Secretary