Question

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

  • 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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