Vertical Question 20 : In final accounts of cooperative society, interest received on loans should be o credited to P&L A/C O debited to P&L A/C o disclosed as liability O disclosed as an asset
Answers
Explanation:
RBI/2015-16/101
DBR.No.BP.BC.2/21.04.048/2015-16
July 1, 2015
All Commercial Banks (excluding RRBs)
Dear Sir
Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Please refer to the Master Circular No. DBOD.No.BP.BC.9/21.04.048/2014-15 dated July 1, 2014 consolidating instructions / guidelines issued to banks till June 30, 2014 on matters relating to prudential norms on income recognition, asset classification and provisioning pertaining to advances.
2. This Master Circular consolidates instructions on the above matters issued up to June 30, 2015. A list of circulars consolidated in this revised Master Circular is contained in the Annex 7.
Yours faithfully
(Sudha Damodar)
Chief General Manager
Encl.: As above