The Forum will elect its Chairman for a period of one year and the principle of rotation will be followed in the subsequent years. 33.3 Banks/lenders should carry out sensitivity tests/scenario analysis, especially for infrastructure projects, which should inter alia include project delays and cost overruns. Amount of Technical write-off should be certified by statutory auditors. 25. The terms ‘net investment in the lease’, ‘finance income’ and ‘finance charge’ are as defined in ‘AS 19 Leases’ issued by the ICAI. 5/06.02.31/2013-14 dated July 1, 2013 on Lending to Micro, Small & Medium Enterprises (MSME) Sector. 2 0 obj
20. Further, based on the harvesting period as noted by the SLBC would be taken into consideration while identification of accounts as NPA’s.
5.2.2 Though flexibility is available whereby the creditors could either consider restructuring outside the purview of the CDR system or even initiate legal proceedings where warranted, banks / FIs should review all eligible cases where the exposure of the financial system is more than Rs.100 crore and decide about referring the case to CDR system or to proceed under the new Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 or to file a suit in DRT etc. 2.6 The CDR Core Group would lay down the policies and guidelines to be followed by the CDR Empowered Group and CDR Cell for debt restructuring. (iii) For assets sold on or after February 26, 2014, banks can reverse the excess provision on sale of NPAs, if the sale value is for a value higher than the NBV, to its profit and loss account in the year the amounts are received. CID.BC. (iv) Banks should work out the restructuring package and implement the same within a maximum period of 90 days from date of receipt of requests. The Government mandate to register all types of mortgages with CERSAI will have to be strictly followed by banks. Thereafter, the asset classification status of the financial asset purchased, shall be determined by the record of recovery in the books of the purchasing bank with reference to cash flows estimated while purchasing the asset which should be in compliance with requirements in Para 7.3 (iv).
Illustratively, divergences could occur if banks are not appropriately factoring in the term premium on account of elongation of repayment period on restructuring. 5.9.13 Provisioning for housing loans at teaser rates.
However, for sufficient reasons the period can be extended up to a maximum of 180 days from the date of reference to the CDR Cell. provisions made on restructured accounts under various categories; and. Detailed guidelines on the subject of ‘Refinancing of Project Loans’, and other regulatory measures are as under: 31.1 As per the definition of a restructured account as given under ‘Key Concepts’ in Annex 5 of this Master Circular, a restructured account is one where the bank, for economic or legal reasons relating to the borrower's financial difficulty, grants to the borrower concessions that the bank would not otherwise consider. Majority of the banks had achieved PCR of 70 percent and had represented to RBI whether the prescribed PCR is required to be maintained on an ongoing basis. b) Conversion into equity, debentures or any other instrument: The amount outstanding converted into other instruments would normally comprise principal and the interest components. Valuation and provisioning norms would be as per para 13.3 above. Depending upon the duration of crops raised by an agriculturist, the above NPA norms would also be made applicable to agricultural term loans availed of by him. The definition of the terms Micro Enterprises, Small Enterprises, and Medium Enterprises shall be in terms of Master Circular RPCD.SME&NFS.BC.No.
Such details should be certified by the authorized officials of the servicing agent. (iv) The above-mentioned higher provision on restructured standard advances (2.75 per cent as prescribed vide circular dated November 26, 2012) would increase to 5 per cent in respect of new restructured standard accounts (flow) with effect from June 1, 2013 and increase in a phased manner for the stock of restructured standard accounts as on May 31, 2013 as under: 12.4.2 Provision for diminution in the fair value of restructured advances. 2.3 The CDR Standing Forum shall comprise of Chairman & Managing Director, Industrial Development Bank of India Ltd; Chairman, State Bank of India; Managing Director & CEO, ICICI Bank Limited; Chairman, Indian Banks' Association as well as Chairmen and Managing Directors of all banks and financial institutions participating as permanent members in the system. (b) The securities (bonds and debentures) offered by SC / RC should satisfy the following conditions: (i) The securities must not have a term in excess of six years. This will enable a change in management control, should lenders favour it. 2As a countercyclical measure, on February 7, 2014, banks were permitted to utilise upto 33 per cent of countercyclical provisioning buffer / floating provisions held by them as on March 31, 2013, for making specific provisions for non-performing assets, as per the policy approved by their Board of Directors. Further, while arriving at the provision required to be made for doubtful assets, realisable value of the securities should first be deducted from the outstanding balance in respect of the amount guaranteed by the Corporation and then provision made as illustrated hereunder: Period for which the advance has remained doubtful, More than 2 years remained doubtful (say as on March 31, 2014), Less: ECGC Cover
34. Loans to individual farmers [including Self Help Groups (SHGs) or Joint Liability Groups (JLGs), i.e. Details of nonperforming financial assets sold: C. The purchasing bank shall furnish all relevant reports to RBI, credit information company which has obtained Certificate of Registration from RBI and of which the bank is a member etc. 9. 4.2.4 Accounts with temporary deficiencies.
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