Question
As per loan review framework of RBI, loan review of low
value accounts are usually carried out __________Solution
As per the Loan review mechanism given by RBI, banks credit audit or loan review should include review of the sanction process and status of post sanction processes/ procedures (not just restricted to large accounts The frequency of review should vary depending on the magnitude of risk (say, for the high risk accounts - 3 months, for the average risk accounts- 6 months , for the low risk accounts- 1 year). The review would include:
- Feedback on general regulatory compliance.
- Examine adequacy of policies, procedures and practices.
- Review the Credit Risk Assessment methodology.
- Examine reporting system and exceptions thereof.
- Recommend corrective action for credit administration and credit skills of staff.
- Forecast likely happenings in the near future
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