RBI vide Notification no. RBI/2021-2022/104 dated 1st October, 2021 has issued Master Direction to Banks on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances.
In line with the international practices and as per the recommendations made by the Committee on the Financial System, the Reserve Bank of India has introduced prudential norms for income recognition, asset classification and provisioning for the advances portfolio of the banks.
The Master Direction can be referred through the following link:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12171&Mode=0#P301
