RBI constitutes external working group on ECL based Framework for Banks
Banking & Finance
The Reserve Bank of India has decided to constitute an External Working Group on Expected Credit Loss (ECL) based framework for provisioning by banks to obtain independent inputs on certain technical aspects requiring significant changes. ) on Wednesday constituted a nine-member external working group to obtain independent views on the expected credit loss (ECL) based framework for provisioning by banks. In January this year, the RBI had approved the framework to be adopted by banks for loan loss provisioning. Issued a discussion paper on the expected loss-based approach. RBI had sought comments on the paper till February 28.
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