NEW DELHI: Facing a potential hit on nearly Rs 10,000 crore lent to builders and home buyers in Noida Extension, banks are planning to seek a special dispensation from the Reserve Bank of India to do without setting aside funds for possible default on these loans. "We will need the regulator's indulgence on the matter. This is an extraordinary situation necessitated by court rulings," said the chairman and managing director of a public sector bank. The issue is expected to be taken up at the level of the Indian Banks' Association, the industry lobby group, whose management committee is due to meet this week.
TOI
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