Infosys, on Wednesday, said that its financial software Finacle had the proven ability and framework required to address asset classification and NPA reporting as per the norms prescribed by the Reserve Bank of India.

The United Bank of India, had, earlier in the day, said that Infosys’ software had inherent deficiencies that led to wrong NPA reporting.

In a statement, Infosys, however, pointed out that a “majority of banks in India who run Finacle are successfully managing their asset classification and reporting.” —Staff Reporter