P&H HC: Eyewitness Account Not Credible if Eyewitness Directly Identifies Accused in Court  ||  Delhi HC: Conditions u/s 45 PMLA Have to Give Way to Article 21 When Accused Incarcerated for Long  ||  Delhi High Court: Delhi Police to Add Grounds of Arrest in Arrest Memo  ||  Kerala High Court: Giving Seniority on the Basis of Rules is a Policy Decision  ||  Del. HC: Where Arbitrator has Taken Plausible View, Court Cannot Interfere u/s 34 of A&C Act  ||  Ker. HC: No Question of Estoppel Against Party Where Error is Committed by Court Itself  ||  Supreme Court: Revenue Entries are Admissible as Evidence of Possession  ||  SC: Mere Breakup of Relationship Between Consenting Couple Can’t Result in Criminal Proceedings  ||  SC: Bar u/s 195 CrPC Not Attracted Where Proceedings Initiated Pursuant to Judicial Order  ||  NTF Gives Comprehensive Suggestions on Enhancing Better Working Conditions of Medical Professions    

System-based asset classification - UCBs- (Reserve Bank of India) (12 Aug 2020)

MANU/RMIC/0115/2020

Banking

1. Please refer to the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 1, 2015 containing consolidated instructions on income recognition, asset classification, provisioning and other related matters.

2. In order to improve the efficiency, transparency and integrity of the asset classification process, it has been decided to implement system-based asset classification1 in urban co-operative banks (UCBs). The relevant instructions in this regard are as under:

2.1 UCBs having total assets of Rs. 2000 crore or above as on March 31, 2020 shall implement system-based asset classification with effect from June 30, 2021.

2.2 UCBs having total assets of Rs. 1000 crore or above but less than Rs. 2000 crore as on March 31, 2020 and having self-assessed themselves as being under Level III or Level IV in terms of the circular DoS.CO/CSITE/BC.4083/31.01.052/2019-20 dated December 31, 2019 on Comprehensive Cyber Security Framework for UCBs shall implement system-based asset classification with effect from September 30, 2021.

2.3 UCBs which meet the above criteria as at the end of the current or subsequent financial years shall implement system-based asset classification within a period of six months from the end of the financial year concerned.

2.4 For smooth implementation of the system, all concerned UCBs may conduct pilot/parallel run and evaluate the results for accuracy/integrity of the asset classification in compliance with the applicable RBI instructions so as to ensure that they are ready for implementation of the system-based asset classification from the appointed date.

3. UCBs not meeting the above criteria are also encouraged to voluntarily implement the system-based asset classification in their own interest.

Tags : ASSET CLASSIFICATION   UCBS   INCOME RECOGNITION  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved