RBI/2008-09/84
DBOD.No.BP.BC.20/21.04.048/2008-09

July 1, 2008

All Commercial Banks (excluding RRBs)

Dear Sir

Master Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances

Please refer to the Master Circular No. DBOD.BP.BC.12/21.04.048/2007-2008 dated July 2, 2007 consolidating instructions / guidelines issued to banks till June 30, 2007 on matters relating to prudential norms on income recognition, asset classification and provisioning pertaining to advances.

2. The Master Circular has now been suitably updated by incorporating instructions issued up to June 30, 2008 and is attached. It has also been placed on the RBI web-site (http://www.rbi.org.in). We advise that this revised Master Circular consolidates the instructions contained in the circulars mentioned in the Appendix.

Yours faithfully
(Prashant Saran)
Chief General Manager-in-Charge