Indian Overseas Bank (IOB) has reported a divergence of ₹700 crore in gross NPAs for the period ended March 2021.
Earlier, IOB had reported gross NPAs for the period as ₹16,323 crore, while RBI assessed it to be ₹17,023 crore, resulting in a divergence in NPAs to ₹700 crore, the lender said in a regulatory filing.
The public sector lender posted net NPA of ₹4,578 crore, while the same assessed by the RBI was ₹5,278 crore. IOB said the divergence in provisioning was ₹185 crore, following which the net profit now stands at ₹646 crore.
