Legal UpdatesRBI

RBI defers implementation of Indian Accounting Standards till further notice

RBI Updates

RBI has decided to deferred the implementation of Indian Accounting Standards (Ind AS) till further notice.RBI clarifies that the legislative amendments recommended by the Reserve Bank are under consideration of the Government of India.
However, on April 5, 2018 Statement on Developmental and Regulatory Policies was issued with the First Bi-monthly Monetary Policy 2018-19 wherein implementation of Ind AS was deferred by one year. As there were pending necessary legislative amendments to the Banking Regulation Act, 1949.
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