[

ind as

]
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.
According to experts, Ind AS 115 will help in more transparent accounting of revenues and have an impact on companies operating in diverse sectors, including technology, real estate and telecom.(© Ann Thomas/CORBIS)
According to experts, Ind AS 115 will help in more transparent accounting of revenues and have an impact on companies operating in diverse sectors, including technology, real estate and telecom.(© Ann Thomas/CORBIS)

Govt notifies new accounting standard that comes into effect on April 1

Press Trust of India, New Delhi | By Press Trust of India
PUBLISHED ON MAR 29, 2018 09:22 PM IST
The corporate affairs ministry has notified Indian Accounting Standard (Ind AS) 115.
SHARE
Story Saved