According to Indian banks prudential norms, if a real
estate project fails to become operational in 2 years after the proposed
deadline (As scheduled while sanctioning real estate loan), banks have to
classify the project as NPA (non performing asset).
But, real estate developers said that in many cases,
banks have not funded the projects fully and, therefore, the real estate loans
should not be billed as NPA as the loan has not been completed.
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