Mumbai, Oct. 8 -- The Reserve Bank on Tuesday released draft norms to replace the incurred-loss-based provisioning framework with an expected credit loss (ECL) based provisioning to further strengthen credit risk management practices and promote greater comparability across financial institutions. The proposed guidelines are expected to further strengthen credit risk management practices, promote greater comparability across financial institutions, and align regulatory norms with internationally accepted regulatory and accounting standards. The key elements of the proposed framework include introduction of staging criteria for asset classification under Expected Credit Loss (ECL) approach, while retaining the extant norms for Non-performi...