With reference to Non-Performing Assets (NPAs), Which of the following statements are correct?
1. It is a loan or advance for which the principal amount has been paid but interest payment remained overdue for a period of 90 days.
2. In the case of agricultural loans, NPAs are declared if the interest and/or installment or principal remain unpaid for two harvest seasons.
3. Banks are required to classify NPAs into 3 categories.
1
1 only
2
2 only
3
Both 1 and 2
4
Both 1 and 3
5
Both 2 and 3