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Doctors Medicines MCQs Q&A

  1. 121-180 days
  2. 61-90 days
  3. 1-30 days
  4. 31-60 days
  5. 91-120 days
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Option 4 : 31-60 days

  • Special Mention Accounts (SMAs) are those accounts that have the potential to become an Non Performing Asset (NPA) for the bank.
  • Under the RBI's Prudential Framework for Resolution of Stressed Assets, the Special Mention Accounts (SMA) falls under the following categories
  1. SMA-0: 1-30 days
  2. SMA-1: 31-60 days
  3. SMA-2: 61-90 days
  • The directions  for the Prudential Framework for Resolution of Stressed Assets are issued under the provisions of Section 35AA of the Banking Regulation Act, 1949, for initiation of insolvency proceedings against specific borrowers under the Insolvency and Bankruptcy Code, 2016 (IBC).
  • According to the new guidelines, in the event of a borrower defaulting to any lender, all lenders to the borrower would put in place a Resolution Plan (RP) within 30 days of such default.
  • During this 30-day Review Period, the lenders would decide on a resolution strategy (sale of loan, legal action for debt recovery, immediate referral to NCLT etc.) which could also include restructuring and change in ownership as well.
  • In case an RP is implemented, the lenders would sign Inter Creditor Agreement (ICA) during the Review Period. An agreement signed by lenders representing 75 per cent by value of outstanding or 60 percent of lenders by number would be binding on all lenders.
  • The RP shall provide for payment not less than liquidation value due to the lenders.
  • For most large borrowers, the resolution plan will have to be implemented within 180 days from the end of the Review Period.
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