Question Bank - Banking & Financial Services

Here's the question bank on all the banking & financial services topics.

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A loan or advance for which the principal or interest payment is overdue for a period of 90 days is called:

A.
Bad debt
B.
Loss asset
C.
Non-recurring asset
D.
Non-performing asset

Solution:

The correct option is Option 4, i. e Non-Performing Asset. Non-performing asset (NPA) - It is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days. Non Performing Assets are classified into 3 categories:Sub-standard assets: When the NPAs have aged <= 12 months. Doubtful assets: When the NPAs have aged > 12 months. Loss assets: identified loss, but it has not been written off.

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