A Non-performing asset (NPA) is a credit facility in respect of which the interest and/or installment of Bond finance principal has persisted ‘past due’ for a specified period of time. NPA is used by financial institutions that refer to loans that are in jeopardy of default the so-called NPL. Once the borrower has failed to make interest or principle payments for 90 days the loan is considered to be a non-performing asset. Non-performing assets are dubious for financial institutions since they depend on interest payments for income. Troublesome pressure from the economy can lead to a sharp increase in NPLs and often results in enormous write-downs.
Proof of individual’s identity (We also require same KYC of co-applicant)