a) RBI vide notification no. RBI/2020-21/37 Ref. No. DoS.CO.PPG. /SEC.03/11.01.005/2020-21 dated September 14, 2020 has provided process for Automation of Income Recognition, Asset Classification and Provisioning processes in banks.
b) 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 mentioned guidelines latest by June 30, 2021.
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