A doubtful asset is one which is included in NPA and the period normally exceeds 18 months. With effect from 31.3.2005, the period is considered as 12 months. In case of Term Loan, if the installment (payment of interest and principal) is overdue for two years, the same is treated as ...
RBI has also imposed ₹55 lakh penalty on Indian Bank for contravention of certain Know Your Customer (KYC) norms. RBI conducted scrutiny of the Indian Bank in July 2020 based on a high-value fraud reported by the bank. A penalty of Rs 10.50 lakh has been imposed on Muthoot Money Limit...
As per ERD’s analysis, MSME loan account worth ₹2.2 lakh crore improved since launch ofEmergency Credit Line Guarantee Scheme(ECLGS) for the entire banking industry. Nearly 12% of the outstanding MSME credit has been saved from slipping into NPA (non-performing asset) because of the ECLGS...
3. In terms of extant regulations, Government NBFCs have been provided time upto March 31, 2022 to adhere to the capital adequacy norms provided for NBFCs (Ref. Annex I of Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taki...