 "RBI, reserve bank of india")
The Reserve Bank of India (RBI) has pulled up banks for delay in automating the process of identifying non-performing assets (NPA), provisioning, and filing returns with banking regulator. It has asked the banks to comply with the guidelines by June 30, 2021.
Banks were advised in August 2011 to have an appropriate IT system for identification of NPAs and generation of related data/returns, both for regulatory reporting and banks' own MIS requirements.
In a communication to bank chief executives, the RBI said it was observed that process in many banks is not yet fully automated. Banks are still found to be resorting
