March 20, 2015
All Scheduled Commercial Banks
Guidelines on Sale of Financial Assets to Securitisation Company / Reconstruction Company and Related Issues
Please refer to paragraph 6 of the circular DBOD.BP.BC.No.96/21.04.048/2002-03 dated April 23, 2003, wherein disclosure requirements relating to sale of non-performing assets (NPAs) to Securitisation Companies(SCs)/Reconstruction Companies(RCs) have been specified.
2. In this connection, to enhance transparency, it has been decided that in addition to the disclosure requirements quoted in the above paragraph, banks shall make the following disclosures in the Notes to Accounts in their Annual Financial Statements: