07/04/2025
The Reserve Bank of India, on Monday, asked banks to upgrade their systems by June 30, 2021, for identification of non-performing assets (NPA) and calculation of provisioning. It seems that the RBI wants an automated system without human intervention that identifies NPAs and also makes provisioning without human intervention. This is a great step as bank officials in connivance with big fraudsters were hiding these NPAs in the past. Even unscrupulous guys were given further loans in the name of restructuring and recovery.