Question

      RBI has extended the deadline for NBFCs to adhere to

    new NPA (Non performing assets) recognition norms to :
    A may 31, 2022 Correct Answer Incorrect Answer
    B July 31, 2022 Correct Answer Incorrect Answer
    C August 31, 2022 Correct Answer Incorrect Answer
    D Sept 30, 2022 Correct Answer Incorrect Answer
    E December 31, 2022 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India extended the timeline by six months for NBFCs to adhere to the new NPA recognition norms. Earlier the regulator had set March 31 deadline for non-bank lenders to upgrade NPAs only after all arrears and principal dues are paid. NBFCs will have time till September 30, 2022, to put in place the necessary systems to implement this provision. RBI also clarified that loans classified as NPA will be upgraded to the standard category           

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