Question
While auditing a bank’s loan portfolio, the auditor
notices multiple restructuring cases of SME accounts in the same quarter. What should be the key audit focus?Solution
Restructured accounts may mask NPAs. The auditor must check whether the loans have been correctly classified as per IRAC norms and adequate provisions made.
What is the purpose of the Udyam Assist Portal (UAP) certificate issued to Informal Micro Enterprises (IMEs)?
Consider the following statements about the participants in the derivatives market:
1. Hedgers use derivatives to manage or mitigate risk by taki...
On March 03, a saving bank customer in India, requests for issue a USD 10,000. The inter-bank currency rates are as under:
Spot rate: 1 USD = Rs....
Which type of reserves are not to be included for the calculation of Capital for Capital adequacy norms?
The National Development Council (NDC) was set up on ____________ to strengthen and mobilize the effort and resources of the nation in support of the F...
According to the Union Budget 2023-24, consider the following statements.Â
1. National Green Hydrogen Mission, with an outlay of 19,700 crores
What can be the maximum tenor of takeout finance by IIFCL, as a percentage of the economic life of the project?
 For receiving grant from abroad under the Foreign Contribution Regulation Act, which of the following would give permission for the same?
For more than three years (unsecured) doubtful advances, provision will be made for
What is the ratio of money held by the public in currency to that held as deposits in commercial banks called?
