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of <h1>Nidhi Companies Must Follow Norms for Revenue Recognition, Asset Classification; Specific Provisioning Required for Mortgage Loans</h1> Every Nidhi company must adhere to prudential norms for revenue recognition and asset classification for mortgage and jewel loans. Income from non-performing assets is recognized only upon realization, with prior unrealized income reversed in the subsequent year's accounts. Mortgage loans require specific provisioning based on asset classification: no provision for standard assets, 10% for sub-standard, 25% for doubtful, and 100% for loss assets. Companies established before July 26, 2001, must make provisions for outstanding loans as of March 31, 2002. Loans against gold or silver must be recovered or renewed within three months, with a loan-to-value ratio not exceeding 80%.
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