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Implementation of Indian Accounting Standards (Ind AS)

Implementation of Indian Accounting Standards (Ind AS)

The RBI has instructed select All-India Term Lending and Refinancing Institutions (AIFIs) namely Exim Bank, NABARD, NHB and SIDBI to implement the Indian Accounting Standards as notified under the Companies (Indian Accounting Standards) Rules 2015 in their financial statements for accounting periods beginning from April 1, 2018 onwards. It is likely to significantly impact the financial reporting systems and the changed need to be planned in advance. The RBI will also issue guidelines and clarifications in this regard.

 

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