RBI seeks details of banks’ exposure to war-torn West Asia

THE RESERVE BANK of India (RBI) has asked banks to furnish detailed information on their exposure to West Asia, according to bankers.

- CHRISTINA TITUS

“The RBI has asked for a comprehensive breakdown of exposure, covering not just loans but also contingent liabilities such as guarantees and letters of credit,” said a banker and confirmed the development on condition of anonymity.

Another senior state-run banker said, “We have been asked to provide details of the affected sector operating in the region. The exercise is aimed at mapping risks more closely.”

According to the bankers, the central bank has sought granular data on both direct and indirect loan exposure, including letters of credit, and other fund-based as well as non-fund-based facilities extended to corporates with operations in the West Asian region.