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With reference to the Non-Performing Assets, consider the following statements:
- It is a loan or advance for which the principal or interest payment remained overdue for a period of 30 days.
- Substandard assets means it has remained NPA for a period less than or equal to 12 months.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
With reference to the Non-Performing Assets, consider the following st...
According to data furnished by the Reserve Bank of India (RBI), in the last 5 years, Rs 10 lakh crore in write-offs has enabled banks to reduce their non-performing assets (NPAs).
- A non-performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days.
- Banks are required to classify NPAs further into Substandard, Doubtful and Loss assets.
- Substandard assets: Assets which has remained NPA for a period less than or equal to 12 months.
- Doubtful assets: An asset would be classified as doubtful if it has remained in the substandard category for a period of 12 months.
- Loss assets: As per RBI, loss asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted, although there may be some salvage or recovery value.
Hence only statement 2 is correct.
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With reference to the Non-Performing Assets, consider the following statements: It is a loan or advance for which the principal or interest payment remained overdue for a period of 30 days. Substandard assets means it has remained NPA for a period less than or equal to 12 months.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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