Exact date of npa

Querist : Anonymous (Querist) 30 December 2023 This query is : Resolved
In a OD account October interest was debited on 31-10-23. On 30.10.2023 account was regular without any overdue. No other transaction except for interest of November and December. At what date this account becomes NPA. 01.01.2024 or 01.02.2024

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kavksatyanarayana (Expert) 30 December 2023
No legal issue is involved in this query. Ask in the bank.

T. Kalaiselvan, Advocate (Expert) 30 December 2023
Identification of Loan Account as Non-Performing Asset

No matter the type of credit availed, be it term loan, overdraft, or cash credit, if the borrower fails to repay the interest or principal amount, either partially or fully on time for more than 90 days, then the lender will classify his/her loan account as NPA.

Querist : Anonymous (Querist) 31 December 2023
My query is for exact date Jan 1st or Feb 1st. From which date 90 days starts Oct 1st or Nov 1st

T. Kalaiselvan, Advocate (Expert) 31 December 2023
You have been explained the law involved in this.
Your further questions can be answered by your bank manager or the advocate you may engage.
Don't expect spoon feeding advice.
You can calculate the date as per the law explained to you.

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