Tel. HC: Right to Personal Liberty Includes Right to Possess Passport  ||  Ker HC: Revisional Power of Collector Can be Exercised against AO under S.13 of Ker Building Tax Act  ||  SC Rules in Favor of Central Government in batch of pleas challenging the Abrogation of Article 370  ||  Bom HC: Unpublicized Tender Condition if Permitted to be Acted Upon Amounts to Denial of Opportunity  ||  Raj. HC: Can’t Refuse Marriage Certificate Merely Because one of the Parties is a Foreign National  ||  Del. HC Calls for User-Friendly Handbook for Accessibility in Missing Children Cases  ||  All. HC: Husband Not Liable for Marital Rape if Wife is 18 Years or Above  ||  Del. HC: Obtaining of Voice Samples of Accused Must be in Compliance with Telegraph Act  ||  P&H HC: Peaceful Protest is Not a Penal Offence Under Section 188 IPC  ||  All HC: AO Must Consider Form 10 u/s 17 Supplied After Limitation But Before Assessment is Completed    

Clarification regarding prudential norms on income recognition, asset classification and provisioning pertaining to advances- (Reserve Bank of India) (15 Feb 2022)

MANU/RMIC/0014/2022

Banking

1. Please refer to the clarifications issued in respect of Prudential norms on Income Recognition, Asset Classification and Provisioning vide circular DOR.STR.REC.68/21.04.048/2021-22 dated November 12, 2021 ('Circular').

2. In view of several queries received seeking certain clarifications, it is advised as under:

(i) The definition of 'out of order', as clarified in the Circular, shall be applicable to all loan products being offered as an overdraft facility, including those not meant for business purposes and/or which entail interest repayments as the only credits.

(ii) The 'previous 90 days period' for determination of 'out of order' status of a CC/OD account shall be inclusive of the day for which the day-end process is being run.

(iii) In case of borrowers having more than one credit facility from a lending institution, loan accounts shall be upgraded from NPA to standard asset category only upon repayment of entire arrears of interest and principal pertaining to all the credit facilities.

(iv) The circular does not make any changes to the requirements related to reporting of information to CRILC, which will continue to be governed in terms of extant instructions for respective entities1.

Tags : PRUDENTIAL NORMS   INCOME RECOGNITION   CLARIFICATIONS  

Share :        

Disclaimer | Copyright 2023 - All Rights Reserved