IRAC Circular Refer Para No Sample Clauses

IRAC Circular Refer Para No. 2.1.2 (i) - interest and/ or instalment of principal remains overdue for a period of more than 90 days in respect of a term loan Example Description - SMA and NPA Classification of Term Loan Cases based on overdue date. Example Detail: If due date of a loan account is March 31, 2021, and complete dues are not received before the lending institution runs the day-end process on this date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2021.“Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running day-end process on May 30, 2021 and if continues to remain overdue further, it shall get classified as NPA upon running day-end process on June 29, 2021. This is further elaborated as below mention table: Date DPD Classification "31-Mar-21 “(Due Date)" 1 XXX-0 00-Xxx-00 00 XXX-0 30-May-21 61 SMA-2 29-Jun-21 91 NPA
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IRAC Circular Refer Para No. 2.1.2 (ii) - the account remains ‘out of order’ as indicated at paragraph 2.2 below, in respect of an Overdraft/Cash Credit (OD/CC) Para No. 2.2 (Part 1) - An account should be treated as 'out of order' if the outstanding balance remains continuously in excess of the sanctioned limit/drawing power for 90 days. Example Description - SMA and NPA Classification on Revolving Facility like Cash Credit / Overdue cases based on Out of Order (Part 1).
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IRAC Circular Refer Para No. 2.1.2 (ii) - the account remains ‘out of order’, in respect of an Overdraft/Cash Credit (OD/CC) Circular refer Para No. 6 (ii) - An account should be treated as 'out of order', the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but there are no credits continuously for 90 days, or the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but credits are not enough to cover the interest debited during the previous 90 days period Example Description - NPA Classification on Revolving Facility like Cash Credit / Overdue cases based on Out of Order. Example: If Prior 90 Days Interest charged/debited in revolving facility like cash credit / overdraft account is more than credit received on account then it shall get classified as NPA upon running day-end process as on Date. The same is explain as below mention table: Date Transaction Detail Amount Classification 01-Jan-21 Customer Use the Limit of Cash Credit / Overdraft Account 100000 31-Jan-21 Debit Interest 1500 15-Feb-21 Customer paid the amount 2000 28-Feb-21 Debit Interest 1500 31-Mar-21 Debit Interest 1700 NPA* * NPA is classified due to Interest Charged in last 90 Days is Rs. 4700 (i.e. 1500 + 1500 + 1700) and Credit are received only is Rs. 2000. which is less than the interest charged
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IRAC Circular Refer Para No. 4.2.5 - If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as nonperforming and may be classified as ‘standard’ accounts. Example Description - Upgradation of NPA Account: loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower Date Due Amount DPD Classification "31-Mar-21 “(Due Date)" 10000 1 SMA-0 30-Apr-21 10000 3 1 XXX-0 00-Xxx-00 0 0 XXX-0 31-May-21 10000 29-Jun-21 9 1 NPA 30-Jun-21 10000 1-Jul-21 Upgradation* *Upgradation of Account to standard category can be done after total pending due of Rs. 40000 is received from borrower by the Bank
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IRAC Circular Refer Para No. 4.2.5 - If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as nonperforming and may be classified as ‘standard’ accounts. Example Description - Upgradation of NPA Account: loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower and all the excess amount of limit sanctioned to borrower is also paid. Date DPD Classification "31-Mar-21 “(Outstanding Balance is Excess of 1 Sanction Limit / Drawing Power*)" 00-Xxx-00 00 XXX-0 30-May-21 61 SMA-2 29-Jun-21 91 NPA 30-Jun-21 Upgrade** * Outstanding Balance can be treated in Excess of Sanctioed Limit / Drawing Power if any Revolving facility (i.e. Overdraft / Cash Credit) Limit provide by bank is Rs. 1 Lacs and Utilization of customer is more than Rs. 1 Lacs (say Rs. 1,10,000) **Upgradation of Account to standard is Possible after excess amount of limit is received from borrower of Rs. 10,000 and entire arrears of interest and principal are paid by the borrower Version January 2022 [16] Example No. - 3 (Revolving Facility like Cash Credit / Overdraft) "IRAC Circular Refer Para No. 2.1.2 (ii) - the account remains ‘out of order’, in respect of an Overdraft/Cash Credit (OD/CC)“Circular refer Para No. 6 (ii) - An account should be treated as 'out of order', the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but there are no credits continuously for 90 days, or the outstanding balance in the CC/OD account is less than the sanctioned limit/drawing power but credits are not enough to cover the interest debited during the previous 90 days period" Example Description - NPA Classification on Revolving Facility like Cash Credit / Overdue cases based on Out of Order . Example: If Prior 90 Days Interest charged/debited in revolving facility like cash credit / overdraft account is more than credit received on account then it shall get classified as NPA upon running day-end process as on Date. The same is explain as below mention table: Date Transaction Detail Amount Classification 1-Jan-21 Customer Use the Limit of Cash Credit / Overdraft Account 100000 31-Jan-21 Debit Interest 1500 15-Feb-21 Customer paid the amount 2000 28-Feb-21 Debit Interest 1500 31-Mar-21 Debit Interest 1700 NPA* * NPA is classified due to Interest Charged in last 90 Days is Rs. 4700 (i.e. 1500 + 1500 + 1700) and Credit are receive...
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IRAC Circular Refer Para No. 4.2.5 - If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as nonperforming and may be classified as ‘standard’ accounts. Example Description - Upgradation of NPA Account: loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower and updated renewal done (i.e. Renewal Date should be between last 179 days) Date Classification "31-Mar-21 “(Stock Statement Received)" 27-Sep-21 25-Oct-21 NPA Upgrade* *Upgradation of Accounts to standard can be done post renewal (The Date of Renewal between 29-4-2021 to 25-10-2021) and after entire arrears of interest and principal are paid Version January 2022 [18] Example No. - 6 (Credit Card)
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IRAC Circular Refer Para No. 2.1.2 (i) - interest and/ or instalment of principal remains overdue for a period of more than 90 days in respect of a term loan Example Description - SMA and NPA Classification of Term Loan Cases based on overdue date. Example Detail: If due date of a loan account is March 31, 2021, and complete dues are not received before the lending institution runs the day-end process on this date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2021. Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running day-end process on May 30, 2021 and if continues to remain overdue further, it shall get classified as NPA upon running day-end process on June 29, 2021. This is further elaborated as below mention table: Date DPD Classification 31-Mar-21 (Due Date) 1 XXX-0 00-Xxx-00 00 XXX-0 30-May-21 61 SMA-2 29-Jun-21 91 NPA IRAC Circular Refer Para No. 4.2.5 - If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as nonperforming and may be classified as ‘standard’ accounts. Example Description - Upgradation of NPA Account: loan accounts classified as NPAs may be upgraded as ‘standard’ asset only if entire arrears of interest and principal are paid by the borrower Date Due Amount DPD Classification 31-Mar-21 (Due Date) 10000 1 SMA-0 30-Apr-21 10000 31 XXX-0 00-Xxx-00 00 XXX-0 31-May-21 10000 29-Jun-21 91 NPA 30-Jun-21 10000 01-Jul-21 Upgradation* *Upgradation of Account to standard category can be done after total pending due of Rs. 40000 is received from borrower by the Bank Example No. – 2
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