Question
Which of the following is classified as a Special
Mention Account (SMA-0) under the revised guidelines?Solution
The Special Mention Account (SMA) classification is used by banks as an early warning system for identifying accounts that may potentially become NPAs. SMA-0 refers to loans where the principal or interest is overdue for up to 30 days. This classification allows banks to take preemptive measures to prevent accounts from slipping into NPA status. The SMA Sub-categories include the following:
- SMA-0: delay/overdue of up to 30 days
- SMA-1: delay/overdue of 31-60 days
- SMA-2: delay/overdue of 61-90 days
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