Home › IBPS Clerk › Banking Awareness › NPA & Recovery › An asset judged uncollectible but not yet writte…
An asset judged uncollectible but not yet written off is a:
ALost asset
BLate asset
CLien asset
DLoss asset
Answer & Solution
Correct answer: D. Loss asset
1. The loss may be found by the bank, an auditor or the RBI.
2. The amount stays on the books all the same.
3. Such an asset is a loss asset.
_Source: RBI Master Circular, Prudential Norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances_
Related questions
An NPA of five crore rupees and above needs a stock audit:A bank may spread the provision for a detected fraud over up to:A state government guaranteed advance turns NPA after dues run past:A central government guaranteed advance turns NPA only when the guarantee is:Provisions on standard assets are not counted while arriving at:The standard asset provision on commercial real estate is:The standard asset provision on farm credit and housing loans is:Loss assets that remain on the books must be provided for at: