White paper
Whitepaper on Impact of RBI IRACP circular on NBFCs
Whitepaper on Impact of RBI IRACP circular on NBFCs
In November 2021, RBI issued a circular that covers prudential norms on Income Recognition, Asset Classification, and Provisioning (IRACP). It came in as a clarification to banks, Non-Banking Financial Institutions (NBFCs), and All-India Financial Institutions about treating and reporting their Non-Performing Assets (NPAs). The circular also mandates the need to classify and harmonize Special Mention Account (SMA) and Non-Performing Assets (NPAs) on a day-end position basis.
This white paper covers the 6 immediate action points put forth by RBI and the 4 key themes that emerge out of it.
Key Takeaways
- RBI IRACP – 2021
- Impact on NPAs
- Industry leader survey
- Strategies to manage the change
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