MUMBAI, March 22 (Reuters) - India's central bank said on
Friday banks' "contingent liability" items do not conform with
priority sector lending guidelines.
Banks' "contingent liabilities" include non-fund liabilities
such as bank guarantees.
"Therefore, banks are advised to declassify such accounts
with retrospective effect, where a contingent
liability/off-balance sheet item is treated as part of priority
sector target achievement," the Reserve Bank of India said in a
(Reporting by Shamik Paul; Editing by Subhranshu Sahu)