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The Reserve Bank of India’s move comes as a relief to lenders battling near-record bad loans and spurred a rally in bank shares in late trading on Thursday.(Mint File Photo)

RBI defers new accounting rules for banks by a year

Reuters, Mumbai | By HT Correspondent
UPDATED ON APR 05, 2018 08:09 PM IST
The regulator, which had earlier ordered the banks to move by April 1 to the Ind AS accounting standard, a variant of IFRS, said on Thursday pending rule changes it had decided to delay the implementation of the new accounting system.
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