Draft guidelines on Prudential Framework for IRAC
RBI releases draft guidelines on ‘Prudential Framework for Income Recognition, Asset Classification (IRAC) and Provisioning pertaining to Advances – Projects Under Implementation’
As announced in the Statement on Developmental and Regulatory Policies dated October 06, 2023, with a view to strengthen the extant regulatory framework governing project finance and to harmonise the instructions across all regulated entities, the Reserve Bank of India today released the draft Direction on the prudential framework applicable to financing of project loans. Given the complexities involved in project finance, the revised guidelines seek to provide an enabling framework for the regulated entities for financing of project loans, while addressing the underlying risks. The Comments on the draft Direction are invited from public/stakeholders by June 15, 2024.
Comments/ feedback may be forwarded to:
The Chief General Manager
Credit Risk Group
Department of Regulation, Central Office
Reserve Bank of India, 12/13th Floor,
Shahid Bhagat Singh Marg,
Fort Mumbai – 400 001
or
by email
Read More on RBI
