"We have released around 200 crore from our provisions to our AIFs investments. This is around 20 percent of our total provisioning," Vaidyanathan said at a post-result press conference on April 20.
On more investments to AIFS, Vaidyanathan said that investments will depend as and when opportunities come.
Earlier, the lender had made a 100 percent contingent provision on its AIF investments. "Our AIF book is Rs 1,220 crore and the current applicable Reserve Bank of India (RBI) circular asks us to take a provision on that and by January 18. On a prudent basis, we have done the assessment and taken the provision now. We have made a contingent provision of 100 percent of our AIF book," Vaidyanathan said at the post-results press conference of the Q3FY24 results.
The Reserve Bank of India (RBI) on March 27 issued certain clarifications on its earlier guidelines on investments by lenders in alternative investment funds (AIFs), which have further investments in borrower companies linked to the lenders.
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