The Reserve Bank of India vide circular dated 15 February, 2022 has issued clarification on prior circular on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances for financial institutions. Loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower. NBFCs shall have time till September 30, 2022 to put in place the necessary systems to implement this provision.
The update pertains to the process of uploading the Record of Proficiency (RoP) on the NATS 2.0 portal for the generation of the Certificate of
Government of Karnataka issued the arnataka Labour Welfare Fund (Amendment) Act, 2024
RBI has decided to conduct Variable Rate Repo (VRR) auctions on all working days in Mumbai with reversal taking place on the next working day,
It is clarified that these guidelines are in addition to the existing mode of implementation undertaken by consumers (capex mode) through the national portal (https://www.pmsuryaghar.gov.in/),
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