BoI reports divergence of Rs 63 crore in gross NPAs

Mumbai (Maharashtra) [India], January 8 (ANI): Government-owned Bank of India said on Friday that divergence in gross non-performing assets (GNPAs) as of March 2020 was at Rs 63 crore.
Divergence in gross NPA and provisions is the difference between figures reported by a bank and figures assessed by the Reserve Bank of India (RBI).
As of March 2020, Bank of India had reported a gross NPA of Rs 61,549.93 crore while the RBI assessed a GNPA of Rs 61,612.93 crore for the lender -- resulting in a divergence of Rs 63 crore.
The Rs 63 crore divergence was also seen in net NPA as the bank had reported net NPA of Rs 14,320.10 crore while the RBI assessed net NPA of Rs 14,383.10 crore.
Besides, Bank of India had reported a provision of Rs 45,081.34 crore as of March 2020 while the RBI assessed it at Rs 45,475.34 crore. This indicated a divergence of Rs 394 crore in provisions as of March 2020.
"Total provisions under divergence are Rs 930 crore which include divergence in provision for NPA of Rs 394 crore, provision for investments of Rs 23 crore and a shortfall in standard asset provisioning of Rs 513 crore."
"Out of Rs 930 crore provisions under divergence, the bank has already made provision of Rs 572 crore during the current financial year. Hence, the remaining impact is Rs 358 crore," it added. (ANI)