The concept of NPA is introduced by RBI to reflect a bank’s actual financial health in its balance sheet and as per the recommendations made by the Committee on Financial System (Chairman Shri M. Narasimham). The provisioning should be made on the basis of the classification of assets into different categories.
Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 60/2016-Customs (N.T.), dated the 29th April, 2016, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O.1588(E), dated 29th April, 2016.
