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    Question

    RBI has extended the deadline for non-banking financial

    companies (NBFCs) to comply with new Non-Performing Assets (NPAs) classification norms to September _________.
    A 2022 Correct Answer Incorrect Answer
    B 2023 Correct Answer Incorrect Answer
    C 2024 Correct Answer Incorrect Answer
    D 2025 Correct Answer Incorrect Answer
    E 2026 Correct Answer Incorrect Answer

    Solution

    Reserve Bank of India (RBI) has extended the deadline for non-banking financial companies (NBFCs) to comply with new Non-Performing Assets (NPAs) classification norms to September 2022 from the earlier deadline of March 2022. As per the ‘Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications’, which was issued by RBI on November 15, 2021, the loan accounts that are classified as NPAs could be upgraded as ‘standard’ assets only if entire arrears of interest and principal are paid by the borrower.

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