Answer-In banking, IRAC stands for:

IRAC norms are guidelines issued by the RBI to ensure that banks categorize their assets loans based on risk and recognize income only when it is actually realized for non-performing assets

Question

In banking, IRAC stands

for:

A Income Recognition and Asset Classification

B Internal Rate and Accounting Control

C Interest Revenue and Accrual Compliance

D Investment Review and Asset Categorization

E Institutional Regulation and Audit Committee

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In banking, IRAC stands

Solution