HDFC Exceeds RBI Limits

HDFC exceeds RBI LimitsThe leading private sector bank, HDFC exceled RBI limits on loans to Reliance Industries. HDFC has excelled the limits for a single-borrower, defined by RBI on loans to the industry giant Reliance.

HDFC Bank said that its board of directors claimed “the said excess in respect of this exposure” and it was within the 20% limit of capital funds.

According to RBI protocols, in the case of a single borrower, the limit for credit exposure is 20% and for a borrower group, it is 40%. The RBI allows banks to enhance this exposure by further 5% of capital funds in exceptional circumstances, with the approval of their boards.

Without revealing the exact amount, HDFC Bank said, “Amid the year finished March 31, 2015, the bank’s credit exposures to single borrowers and gathering borrowers were inside of the breaking points endorsed by the RBI except if there should arise an occurrence of Reliance Industries Limited, where the single borrower cutoff points were surpassed.”

“We have not crossed any limit in the previous fiscal year”, a source from Bank added.

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