Age of oldest Dues. The age of oldest dues is reckoned in days from the date on which the oldest payment is due and continues to remain unpaid. In the aforesaid illustration, if the Dues relating to 1st February 2021 remain unpaid till 01.03.2021, the age of the oldest dues is reckoned as 29 days on 02.03.2021. Classification as Special Mention Account (SMA) and Non-Performing Assest (NPA) : Bank will recognize the incipient stress in loan accounts, immediately on Default, by classifying them as Special Mention Accounts (SMA). The basis of classification of SMA / NPA Category shall be as follows : Loans other than revolving facilities Loans in the nature of revolving facilities like cash credit / overdraft SMA Sub Categories Basis for classification - Principal or interest payment or any other amount wholly of partly overdue SMA Sub Categories Basis for classification - Outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for a period of SMA-0 Upto 30 days SMA-1 More than 30 days and upto 60 days SMA-1 More than 30 days and upto 60 days SMA-2 More than 60 days and upto 90 days SMA-2 More than 60 days and upto 90 days Non-performing Asset : Non-Performing Asset (NPA) is a loan or an advance where :
Appears in 6 contracts
Samples: Equitas Small, Loan Agreement, Equitas Small
