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What does non perfoming aset mean
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An account on which interest is due and charged and the same is not serviced within 90 days from the end of the quarter is a Non Performing Asset.
Can you gve an example.for better understanding?
Suppose u have taken a loan of Rs. 30 lacs on your house and u do not pay the interest consistently for 3 months ..then the house u have given as a security/mortgage is considered as NPA.
Ohk thnks alot
House is not considered as NPA. It is the loan account which is considered as NPA. For the bank, loan is an asset.
Then cn u provide me wid an example if u thnk dat is wrng
suppose u had purchased a car , u hv nt paid 3 months int + principle then ur account will become npa, then they hv the rights to acquire ua Car
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