RBI announces that Prudential Norms on Income Recognition, Asset Classification are applicable to NBFCs

Apr 21, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Reserve Bank of India (RBI) on April 17, 2020, announces that the Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances issued to banks on deferment of date of commencement of commercial operations (DCCO) for projects in non-infrastructure and commercial real estate (CRE) sector, shall be extended to Non-Banking Financial companies (NBFCs) as well. RBI vide Notification No. DOR.No.BP.BC.33/21.04.048/2019-20 dated February 07, 2020 had revised the guidelines for deferment of DCCO for CRE projects.

[RBI Notification No. DoR.NBFC (PD).CC.No.110/03.10.001/2019-20]


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