(i) In case of :
(a) public financial institutions; or
(b) a scheduled bank; or
(c) a state financial corporation; or
(d) a state industrial investment corporation;
(ii) there is some income as interest in relation to bad debts or doubtful debts;
(iii) which are prescribed by the appropriate authority having regard to guidelines issued by Reserve Bank of India
(iv) such interest shall be chargeable to tax in the previous year in which it is actually received or is credited to profit & loss account, whichever is earlier.