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Whitepaper on Impact of RBI IRACP circular on NBFCs

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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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