The only area where the BIS standards are yet to be implemented in full are those relating to asset classification, particularly in respect of re-defining NPAs as those past due for a quarter (instead of 2 quarters as at present) BIS Review 13/1999  –7–  and the reduction in the period for classifying such accounts as doubtful from 24 months to 12 months.
We are however making earnest efforts in this direction to make our banking system more transparent and vibrant. The banking system had acquired, at the time of introduction of prudential norms for the first time in 1992-93, a large quantum of non-performing credit which can be termed as legacy NPAs.