RBI TELLS TO BANKS TO REVEAL EXPOSURE TO DUBAI WORLD

RBI has told banks to furnish details of their exposure to Dubai World, a top conglomerate which has sought a moratorium on its debt payments as an exercise to assess the impact of the debt crisis on the economy.
Sri Duvvuri Subba Rao, Governor, Reserve Bank of India said that RBI would disclose the implications of the crisis for the indian economy if necessary.
RBI wants banks with overseas presence to provide details relating to the exposure of Indian Lenders to firms in Dubai. RBI has sought information on the extent of defaults that banks have seen in their Dubai and UAE portfolios.
Among the Indian Banks, Bank of Baroda has the largest no. of branches (six) in the region, followed by ICICI Bank and State Bank of India.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/RBI-tells-banks-to-reveal-exposure-to-Dubai-World/articleshow/5277428.cms