There was a divergence between bank's reported NPAs and NPAs assessed during the inspection on account of failure to classify certain borrower accounts as NPA. There was also a failure to disclose material divergences relating to asset classification and provisioning identified by the RBI, despite exceeding the defined threshold, in the Notes to Accounts, the RBI said in a statement.source https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-imposes-rs-56-lakh-penalty-on-the-nainital-bank/articleshow/87372547.cms
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