Finance : MSMEs in Jammu and Kashmir continue to face auctions and asset seizures despite mandatory RBI restructuring safeguards. The articl...
Fema / RBI : The functioning of co-operative banks has always demanded a delicate balance between regulatory compliance, financial prudence, an...
Fema / RBI : Explore Indias debt restructuring plans and their effectiveness in addressing the rising NPAs in the banking sector amid ongoing f...
Fema / RBI : Learn about Non-Performing Assets (NPA) classification, categories, and provisioning requirements as per RBI norms for effective a...
Corporate Law : Explore the distinction between NPA declaration and default dates under IBC 2016, clarifying implications for insolvency resolutio...
Fema / RBI : India’s banks record a sharp decline in bad loans, with gross NPAs at 2.15% by September 2025, highlighting the impact of sustai...
Fema / RBI : Gross non-perofrming assets (NPAs) improves from 11.33% in FY2017-18, to 13.52% in FY2018-19, to 14.69% in FY2019-20 As per Reserv...
Fema / RBI : ABG Shipyard was incorporated on 15 March 1985, has been banking arrangements since 2001. Financed under Consortium arrangement ov...
Fema / RBI : Gross non-performing assets of scheduled commercial banks have declined As per Reserve Bank of India (RBI) data on global operatio...
Fema / RBI : We advise that as per the circular dated April 17, 2020 on asset classification and provisioning, in respect of all accounts class...
Corporate Law : NCLAT ruled that reclassifying corporate debtor accounts as standard cannot affect a creditor’s right to pursue personal guarant...
Corporate Law : NCLT Chennai rules IBC not right for ED attachment revocation in Nathella Sampath Jewelry case. Detailed analysis of jurisdictiona...
Income Tax : Explore the ITAT Bangalore order in Belur Urban Co-operative Bank vs ITO. Learn why reassessment on interest in NPA loans is direc...
Income Tax : ITAT Pune held that it is settled legal position that interest on (Non-Performing Assets) NPAs cannot be taxed on accrual basis....
Income Tax : ACIT Vs Jila Sahakari Kendriya Bank (ITAT Indore) Provision for Standard Assets Allowable under Section 36(1)(viia) of Income Tax ...
Finance : International Financial Services Centres Authority (IFSCA) Clarifies Due Date for Recognition of Non-Performing Assets (NPAs) in...
Fema / RBI : Reserve Bank of India RBI/2022-23/130 DOR.ACC.REC.No.74/21.04.018/2022-23 October 11, 2022 Madam / Dear Sir, Reserve Bank of India...
Fema / RBI : The ‘previous 90 days period’ for determination of ‘out of order’ status of a CC/OD account shall be inclusive of the day ...
Fema / RBI : The extant instructions on IRACP norms specify that an amount is to be treated as overdue if it is not paid on the due date fixed ...
Fema / RBI : With a view to moving towards international best practices and to ensure greater transparency, '90 days' overdue1 norms for identi...
Since our country’s financial system is predominantly bank-based, non-performing Assets (NPA) of Banks have significant impact on the country’s GDP. NPAs also generate a vicious cycle of effects on the sustainability and growth of the banking system, and if not managed properly could lead to bank’s failure. Mounting NPA is a serious concern for all […]
In view of the uncertainties created by the resurgence of the Covid-19 pandemic in India in the recent weeks, RBI decided to extend the facility for restructuring existing loans to MSMEs without a downgrade in the asset classification subject to the some conditions. RESERVE BANK OF INDIA www.rbi.org.in RBI/2021-22/32 DOR.STR.REC.12/21.04.048/2021-22 May 5, 2021 All Commercial […]
All lending institutions1 shall immediately put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the above judgement.
THE IDEA OF BAD BANK BY WAY OF ASSET RECONSTRUCTION COMPANY (ARC) Governor of Reserve Bank of India Shaktikanta Das during the question-and-answer session at the 39th Palkhivala Memorial Lecture said, ‘If there is a proposal to set up a bad bank, the RBI will look at it’. The Union Budget presented on 1st February […]
Section 18 of the Limitation Act, 1963 would have no application to proceedings under I&B Code. Therefore, the issue raised as regards acknowledgement of liability by reflection in the Balance Sheet/ Annual Return would be irrelevant.
The issue under consideration is whether Tribunal is right in deleting the interest accrued on non performing assets from the computation of taxable income for the assessment year under consideration despite the assessee maintaining mercantile system of accounting?
DCIT Vs. Chitradurga District Co-Op. Central Bank Ltd. (ITAT Bangalore) If an assessee adopts the mercantile system of accounting and in his accounts he shows a particular income as accruing, whether that amount is really accrued or not is liable to bring the said income to tax. His accounts should reflect true and correct statement of affairs. […]
RBI: Automation of Income recognition, asset classification and provisioning – latest guidelines RBI vide its communication September 14, 2020, informed the banks that in spite of its earlier instructions issued on August 04, 2011, to use IT system in place for identification of Non-Performing Assets (NPA) and generation of related data/returns, both for regulatory reporting […]
In order to ensure the completeness and integrity of the automated Asset Classification (classification of advances/investments as NPA/NPI and their upgradation), Provisioning calculation and Income Recognition processes, banks are advised to put in place / upgrade their systems to conform to the following guidelines latest by June 30, 2021.
Moratorium accounts not to be declared as NPA until further notice: Order by Apex Court on September 03, 2020 & September 10, 2020 The apex court heard petition of borrowers on September 03, 2020 seeking interest waiver on loan moratorium granted previously by Reserve Bank of India (“RBI”). In the backdrop of COVID-19, banks had […]
