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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Updated Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs

02-Apr-2024 | RBI/2024-2025/13 DOR.STR.REC.9/21.04.048/2024-25

RBI has issued updated Master Circular- Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs. By virtue of this notification all updates, instructions / guidelines on the subject issued up to March 31, 2024 are consolidated under this circular. Highlights:- 1. General 2. Non-Performing Assets (NPA) 3. Asset Classification 4. Income Recognition 5. Provisioning Norms 6. Divergence in asset classification & provisioning due to non compliance with RBI guidelines 7. Annex I: Direct Finance to Farmers for Agricultural Purposes 8. Annex 2: Proforma 9. Annex 3: Illustrative Accounting Entries to be passed in respect of Accrued Interest on both the Performing and NPAs 10. Annex 4: Clarification on certain frequently asked questions 11. Annex 5: Prudential Guidelines on Restructuring - key concepts 12. Annex 6: Prudential Guidelines on Restructuring - report format 13. Annex 7: Prudential Guidelines on Restructuring - illustrations 14. Annex 8: Guidelines on asset classification of projects under implementation 15. Appendix

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