Q. RBI has relaxed prudential norms on what? a . Income recognition b . Asset classification c. Provisions pertaining to advances d. All of the above ANSWER: All of the above RBI relaxes prudential norms on asset classification, income recognition and advancesReserve Bank of India on 21st Nov 2016 relaxed prudential norms in income recognition, asset classification and provisions pertaining to advances. Decision came following the withdrawal of INR 500 and 100 rupee notes. Taking into consideration the problems being faced by small borrowers in repaying their loan dues, RBI has decided to provide additional 60 days time, provided that the value of the loan or crop loan is less than INR 1 crore. Term loans, housing loans and agriculture loans whether business or personal with sanctioned amount of INR 1 crore rupees on the books of any bank or NBFC will be eligible for relaxation. Loans sanctioned by NBFC (MFI), NBFCs, Housing Finance Companies and PACs and by State Coopera...