Daily Archives: April 23, 2016

Finance Market News by CapitalHeight

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In a virtual confirmation of recent reports that the Reserve Bank of India had trimmed the list of companies that should be included in banks’ asset quality review, Union Bank Chairman and Managing Director Arun Tiwari says the move should be looked at as a “correction” of stricter norms prescribed earlier. “We went to the regulator saying that some of these accounts are okay and the regulator agreed with us,” he told CNBC-TV18 in an interview, adding that the relaxed AQR list would mean Union Bank would save about Rs 800 crore by way of provisioning not needed now.

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