The monetary authority has from time to time been issuing new/revised norms on dud asset classification as system-wide NPAs began to balloon.
Issuing some clarifications to all the extant provisions and including the ones issued on October 1, 2021, on the prudential norms on income recognition, asset classification and provisioning pertaining to advances (IRACP), the RBI asked banks not to upgrade an NPA account after getting only interest dues paid.
This story is from the November 13, 2021 edition of The Free Press Journal.
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This story is from the November 13, 2021 edition of The Free Press Journal.
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