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Q5. Consider the following statements: 1. According to RBI norms, if the principal or interest is overdue for one day to 30 days, the account is identified as Special Mention Account – 0 (SMA-0) category. 2. If a loan is not repaid for more than 60 days, it is classified as non-performing asset (NPA). Which of the above statements are correct?

Answer»

Q5. Consider the following statements:

1. According to RBI norms, if the principal or interest is overdue for one day to 30 days, the account is identified as Special Mention Account – 0 (SMA-0) category.

2. If a loan is not repaid for more than 60 days, it is classified as non-performing asset (NPA).

Which of the above statements are correct?




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