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  Income Recognition and Asset Classification (i-IRAC)  
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i-IRAC is a comprehensive solution to manage non-performing assets (NPA) and recovery proceedings. The solution can be closely integrated with any Core Banking Solutions.
Asset Classification
  Fully integrated with the transaction system.
  Asset can be classified based on the information module available in the base systems.
  Provides various checklists to facilitate data cleansing in the base systems.
  Supports parameterized norms to facilitate frequent changes as per the master circulars of the regulatory authority (say, RBI in India).
  Identifies probably NPAs and raises early alerts or warnings.
  Manages and maintains partial or full and technical write-offs.
Provision Classification
  Percolation of worst classification of all accounts of a customer.
  Features like Agri advances, demand loan extended benefit.
  Calculated provision is provided in the following ways
    As per the system
    As per the user
    Extra provision suggested by the auditor
    Previous Quarter’s provision
    Additional provision for the current quarter
  Effective compliance of regulatory norms
  Accuracy in classification of NPA provision classification
  Facilitates prompt statutory audit
  Strategic tool for NPA management
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