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Cement firm drills Rs 350-cr hole in IndusInd, YES Bank profits

Cement firm drills Rs 350-cr hole in IndusInd, YES Bank profits

Thursday, April 20, 2017, 7:31 AM

Exposure to a single cement company made a Rs 350-crore dent in the net profits of IndusInd Bank and YES Bank, private lenders otherwise known to have better control on asset quality. IndusInd Bank and YES Bank had to make provisions of Rs 122 crore and Rs 228 crore, respectively, for their exposure to this account, in compliance with a Reserve Bank notification.
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