Recent notification by RBI dated November 12, 2021 includes guideline on Standardization of accounts once classified as NPA is as follows:

• Loan account that has any payment which is overdue for 90 days will be tagged as NPA at the day end process
• NPA account can be considered as standard only if the account holder clears all the overdues
• Once any payment is due for 90 days, clearing of partial dues will not help the account holder to upgrade it as standard, unlike earlier

Explanation: Date of overdue: The day after the due date of EMI.

Type of Classification: Standard Accounts

Special Mention Account (SMA): SMA 0: 0-30 days past the due date SMA 1: 31-60 days past the due date SMA 2: 61-89 days past the due date

Non-Performing Asset (NPA): >=90days

Example: If due date of a loan account is March 31, 2021, and full dues are not received before the lending institution runs the day-end process for this date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then this account shall get tagged as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2021. Similarly, if the account continues to remain overdue, it shall get tagged as SMA-2 upon running day-end process on May 30, 2021 and if continues to remain overdue further, it shall get classified as NPA upon running day-end process on June 29, 2021 It is advised to clear all your overdue to avoid any legal action and to maintain clean repayment record.

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