RBI has directed hanks to charge interest on every month instead of on a quarterly basis from April 2002. Which of the following is the objective of this move of RBI?

A

It is a move towards 90 day norm for recognition of bad loans from the year ending March 31:03.2004.

B

It is a move towards introducing simple rate of interest on credit.

C

It is a move to introduce international norms for charging of interest on credit.

D

It is a move towards recovery of interest portion at monthly rents.

E

None of these