In its filing, the bank said the non-performing asset (NPA) accounts, Srei Infrastructure Finance (SIFL) with outstanding dues of ₹510.16 crores and Srei Equipment Finance (SEFL) with outstanding dues of ₹724.18 crores, have been declared as fraud and reported to the Reserve Bank of India (RBI) on Tuesday as per regulatory requirement.
With this, the bank has become the first classify SIFL and SEFL as fraud accounts, according to sources.
In its filing, the bank also said the accounts have been fully provided for as per prescribed prudential norms.
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