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Banking Asset Monitoring Quiz

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Questions and Answers

What action is required once stress begins in an account?

Increase credit limit

No action is required

Extra monitoring and corrective action (correct)

Ignore the situation

How is an asset classified as SMA?

Exceeding the sanctioned limit for 30 days

Paying interest on term loans late

Non-payment of debt whole, part, or installment when due (correct)

Irregularity in maintaining stipulated margin

What is the indicative list of financial difficulty in the context of account monitoring?

Irregularity in cash credit accounts (correct)

Paying instalments on time

Maintaining stipulated margin drawing

Realizing periodic interest debit

What is the consequence of default for credit facilities for running accounts?

Outstanding balance exceeding sanctioned limit for over 30 days Signup and view all the answers

What does the RBI Defaulter List primarily focus on?

Advances of 1 crore and above Signup and view all the answers

Why is it difficult to bring an account back to order once overdue?

It requires extra monitoring and corrective action Signup and view all the answers

What type of accounts fall under Special Mention Accounts (SMA) classification?

Accounts with payments overdue by a specific number of days Signup and view all the answers

In the context of account monitoring, what does SMA 2 represent?

>60 but <=90 days overdue payments Signup and view all the answers

What happens once an asset is classified as SMA?

'SMA' status triggers extra monitoring and corrective action Signup and view all the answers

What is the consequence of non-payment of debt for credit facilities for running accounts?

Outstanding balance remains more than sanctioned limit for more than 30 days. Signup and view all the answers