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      Question

      What does IRAC stand for in the context of NPA and

      recovery in banking?
      A Interest Rate Assessment and Calculation Correct Answer Incorrect Answer
      B Income Recovery and Adjustment Code Correct Answer Incorrect Answer
      C Income Recognition, Asset Classification Correct Answer Incorrect Answer
      D Investment Return and Assessment Criterion Correct Answer Incorrect Answer
      E Institutional Resolution and Asset Classification Correct Answer Incorrect Answer

      Solution

      IRAC norms are guidelines issued by the Reserve Bank of India to regulate how banks classify and manage non-performing assets (NPAs), focusing on income recognition and the classification of assets based on their quality.

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