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More time for UCBs
MUMBAI,
SEPT. 29.
Following requests from urban co-operative banks (UCBs), the Reserve Bank of India has decided to provide additional time to make provisions for non-performing assets in their balance sheets.
Additional provisioning may be phased over a five-year period commencing from the year ending March 31, 2005 instead of four years as stipulated earlier, RBI said in a notification today. — PTI
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