Question

As per the IRACP norms given by RBI, which of the following correctly represents a Cash Credit or Overdraft account (CC/O

Q: Answer-As per the IRACP norms given by RBI, which of the following correctly represents a Cash Credit or...

A CCOD account shall be treated as out of order if The outstanding balance in the CCOD account remains continuously in excess of the sanctioned limitdrawing power for 90 days , or The outstanding balance in the CCOD account is less than the sanctioned limitdrawing power but there are no credits continuously for 90 days, or the outstanding balance in the CCOD account is less than the sanctioned limitdrawing power but credits are not enough to cover the interest debited during the previous 90 days period.

D as out of order ?

A The outstanding balance in the CC/OD account remains continuously in excess of the sanctioned limit/drawing power for 90 days

B The outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but there are no credits continuously for 90 days, or the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but credits are not enough to cover the interest debited during the previous 90 days period

C the account is doubtful for 12 months

D Only a and b

E All of the above

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