BANKING GENERAL KNOWLEDGE
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Detailed explanation-1: -As per the extant norms, advances granted for agricultural purposes are treated as NPA where interest and/or instalment of principal remain unpaid after it has become due for two harvest seasons but for a period not exceeding two half years.
Detailed explanation-2: -A loan granted for short duration crops will be treated as NPA if the instalment of the principal or interest thereon remains unpaid for two crop seasons beyond the due date.
Detailed explanation-3: -(i) Short Term (Seasonal Agricultural Operations) Refinance is provided for production purposes at concessional rate of interest to State Co-operative Banks (StCBs) and Regional Rural Banks (RRBs) by way of sanction of credit limits. Each withdrawal against the sanctioned credit limit is repayable within 12 months.
Detailed explanation-4: -NPA Classification and Reporting For banks and NBFCs, loan account is classified as an NPA if the interest or principal remains overdue for a period 90 days or three months and above.
Detailed explanation-5: -Repayment:-Repayment period will be less than one year for all crops except in the case of long duration crops such as Sugarcane [adsali], Pineapple, Banana etc where it will be 12-18 months. Up to Rs. 1, 00, 000/-DPN, Hypothecation of assets created and crops.