ICICI Bank and HDFC Bank have been instructed by a regulator to make significant one-time provisions. ICICI Bank must set aside an additional Rs 1,283 crore, while HDFC Bank is required to allocate Rs 500 crore. The regulator has also urged both banks to identify and address shortcomings in their loan portfolios. These adjustments are necessary to ensure compliance with Priority Sector Lending (PSL) norms.
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