Asset Classification

Description

The Asset Classification module is one of our oldest products and a very successful one. It had been conceived during the early nineties; almost synchronous with the publication of Income Recognition and Asset Classification (IRAC) norms by RBI and includes both classification of Non-Performing Assets and Provisioning. The module is being used continuously since long at a number of Nationalized and private Banks

Features

The solution, in its process of identifying NPAs, includes and makes known two unique acronyms to the users. The first is CADU (Critical Amount Due), which is the minimum amount due in an exposure which if not recovered should render the account as NPA. The second is CAD (Critical Amount in Default), which is the amount unpaid, and responsible for the account going bad. Hence, the users are forewarned with CADU for potential NPAs

The solution is capable of doing Asset Classification on a daily basis and warn of Potential NPAs

The solution is enabled to also compute statutory provisions for Performing and NPAs. Any changes in provisioning rules by the RBI can be incorporated in the system with the least intervention

The solution is equipped with MOC screens for any desired changes suggested by Audit in the IRAC area