Special Mention Account (SMA) refers to an account that exhibits signs of potential credit weakness or is at risk of becoming a non-performing asset (NPA). These accounts are categorized based on the level of risk and indicate varying degrees of credit stress.
Special Mention Accounts are typically classified into three categories: SMA-0, SMA-1, and SMA-2. SMA-0 represents the lowest level of risk, SMA-1 indicates a moderate level of risk, and SMA-2 represents the highest level of risk.
SMA Sub Category
SMA – NF
Non-financial (NF) signals of stress
Principal or interest payment not overdue for more than 30 days but account showing signs of incipient stress, Delay of 90 days or more in (a) submission of stock statement / other stipulated operating control statements or (b) credit monitoring or financial statements or (c) non-renewal of facilities based on audited financials.
Principal or interest payment overdue between 31-60days.
SMA – 2
Principal or interest payment overdue between 61-90 days.
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Stress Account Finance is a loan given by a financial institution registered under RBI(Reserve Bank of India) to a borrower who is under financial stress to pay off his statutory liabilities, overdue in loan repayments & to provide working capital for business.
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