Economics · Banking Sector and Non-Performing Assets
Consider the following statements regarding Non-Performing Assets (NPAs): 1. An asset is classified as non-performing when the interest and/or installment of principal remains overdue for more than 90 days in a term loan. 2. The Committee on Financial System (CFS), headed by Shri M. Narasimham, was constituted in 1991 and recommended income recognition norms aligned with international practices. 3. The Reserve Bank of India (RBI) introduced norms for Income Recognition and Asset Classification (IRAC) based on the recommendations of the Narasimham Committee. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 11 only
- 22 only
- 31 and 3 only
- 41, 2, and 3✓
Correct answer
1, 2, and 3
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking Sector and Non-Performing Assets MCQs →Want more practice questions on Banking Sector and Non-Performing Assets?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Banking Sector and Non-Performing Assets