Consider the following statements 1. A loan becomes a non-performing asset (NPA), if the borrower does not pay any interest or principle till 90 days. 2. If the borrower pays his dues regularly and on time, then bank will call such loan as its Standard As

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Q: 31 (Current Affairs-NOV/2016)
Consider the following statements
1. A loan becomes a non-performing asset (NPA), if the borrower does not pay any interest or principle till 90 days.
2. If the borrower pays his dues regularly and on time, then bank will call such loan as its Standard Asset.
3. Banks are required to classify NPAs into 3 categories: Sub-standard, doubtful and loss, based on the period for which the asset has remained non performing.
4. Sub-standard asset is the first category of NPA that is when interest or principal is due for more than 90 days.
Which of the above statements are correct?

question_subject: 

Economics

stats: 

0,93,49,30,16,93,3

keywords: 

{'standard asset': [0, 0, 0, 1], 'loan': [1, 0, 1, 6], 'such loan': [0, 0, 0, 1], 'asset': [0, 0, 0, 3], 'npa': [0, 0, 0, 1], 'borrower': [0, 0, 0, 3], 'interest': [1, 3, 3, 15], 'npas': [0, 0, 0, 1], 'banks': [5, 6, 5, 25], 'bank': [0, 1, 0, 1], 'period': [9, 3, 3, 8], 'categories': [2, 0, 2, 9], 'principal': [0, 1, 0, 1], 'dues': [0, 0, 0, 3], 'first category': [0, 0, 0, 1]}