ILLUSTRATION (12) From the following information find out the amount of provisions required to be made in the Profit & Loss Account of a commercial bank for the year ended 31st March, 2016. (i) Packing credit outstanding from Food Processors $ 60 lakhs against which the bank holds securities worth $ 15 lakhs. The above advance has remained doubtful for more than 3 years. (ii) Other advances : Assets classification Standard $ in lakhs Standard 3,000 Sub-standard 2,200 Doubtful: For one year For two years For three years For more than 3 years 900 600 400 300 Loss assets 600