BANKS TO GET SIX MORE MONTHS TO COVER NPAs

The Reserve Bank of India will give Banks six months more to set aside extra funds from their profits to cover non-performing assets, stretching an earlier deadline of September 2010, which would help the banks to spread the possible adverse impact on their balance sheets over a longer period. After this deadline extension, banks will have to increase their Provision Coverage Ratio (PCR) to 70% by end March 2011. A higher PCR denotes good financial health.
Indian Banking System as a whole has a PCR of slightly above 50% and will have to set aside nearly Rs.21000 crores to raise it to 70%. The bulk of this shortfall relates to country's two largest banks - State Bank of India and ICICI Bank.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance-/banking/Banks-to-get-six-more-mths-to-cover-NPAs/articleshow/5253059.cms
If you remember, Central Bank of India has already achieved a PCR of 74.3% as on September 30, 2009, i.e one year in advance of RBI's earlier deadline of September 30, 2010.