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Q13. Consider the following statements about Special Mention Account: 1. Before a loan account turns into an NPA, banks are required to identify incipient stress in the account. 2. SMA-0 is an account in which principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress. Which of the following statements are correct?

Answer»

Q13. Consider the following statements about Special Mention Account:

1. Before a loan account turns into an NPA, banks are required to identify incipient stress in the account.

2. SMA-0 is an account in which principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress.

Which of the following statements are correct?




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