RBI to issue guidelines on prudential framework for income recognition, asset classification

The Reserve Bank of India (RBI) will issue a draft of detailed guidelines on the prudential framework for income recognition and asset classification, Governor Shaktikanta Das said on October 6.

" A prudential framework for income recognition, asset classification and provisioning pertaining to advances, particularly in the context of projects under implementations," Das said as he shared the outcome of the bi-monthly policy review.

With a view to strengthening the project finance framework, the existing prudential norms had been reviewed and draft guidelines would soon be released for comments, the RBI governor said.

The RBI, as expected, left the key repo rate unchanged at 6.5 percent for the fourth consecutive time while reiterating its commitment to cool inflation.