BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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90 days
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1 crop season
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2 crop seasons
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180 days
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Detailed explanation-1: -84. 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: -The crops having a life span of five years or more are known as Long term crops. Examples of long-term crops are paddy, mango, millets, coconut, etc.
Detailed explanation-3: -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.
Detailed explanation-4: -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.