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    Question

    Consider the following statements with respect to the

    Non Performing Asset- I.NPA refers to a classification for loans or advances that are in default or are in arrears on scheduled payments of principal or interest. II.For agriculture, if principle and interest is not paid for three cropping seasons, the loan is classified as NPA. III.Gross NPAs are the sum of all the loans that have been defaulted by the individuals. Which of the following statements is/are CORRECT?┬а
    A Only I & III Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C Only II & III Correct Answer Incorrect Answer
    D Only III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    NPA refers to a classification for loans or advances that are in default or are in arrears on scheduled payments of principal or interest.For agriculture, if principle and interest is not paid for two cropping seasons, the loan is classified as NPA.Gross NPAs are the sum of all the loans that have been defaulted by the individuals

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