Npa
This query is : Open
13 August 2013
in case of banking companies if the amount of principal or / and interest remains undue for more than 90 days it becomes npa and after that it is categorised into sub standard asset and now provision of 10% is to be created for a period of not more than 12 months. my question is whether 90 days to included in 12 months or not?
CA PARTH SHAH
(Expert)
01 September 2014
12 months are to be counted after the account becomes NPA i.e. after 90 days
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