Match the following:
List I | List II |
|---|---|
A. SMA-0 | 1. Overdue 60–90 days |
B. SMA-1 | 2. Overdue up to 30 days |
C. SMA-2 | 3. Overdue 30–60 days |
Assertion (A): A loan overdue for more than 90 days is classified as an NPA.
Reason (R): RBI’s prudential norms define NPAs to protect banks and depositors.
Choose the correct option:
Assertion (A): Garnishee Order applies only to existing balances.
Reason (R): Future deposits do not create a debtor-creditor relationship.
Assertion–Reason Type Assertion (A): Garnishee Order applies only to existing balances.
Reason (R): Future deposits do not create a debtor-creditor relationship.
Assertion (A): Garnishee Order does not apply to future deposits.
Reason (R): Garnishee Order attaches only funds due at the time of receipt.
Consider the following scenario: Mr. H initially nominates his mother for his account. Later, after marriage, he wants to change the nominee to his wife.
Statement I: Mr. H can change the nominee by submitting a modification form.
Statement II: In a joint account, only Mr. H’s signature is sufficient to change the nominee.
Consider the following statements regarding record-keeping of nominations:
Statement I: Banks may record nomination details in passbooks or deposit receipts for transparency.
Statement II: Recording nomination details in passbooks is optional and not recommended.