Q. With reference to Non-Performing Assets, which of the following statements is/are correct?
Select the correct answer using the code given below:
Explanation:
Statement 1 is correct: An NPA for a period of less than or equal to 12 months is a Substandard asset.
Statement 2 is correct: Substandard assets for a 12 months period become a Doubtful asset.
Statement 3 is correct: Loss Assets are assets that have very little or no recovery. Banks cannot count them as Bankable assets.