22 April 2024

Notifications & Circulars

Ministry of Corporate Affairs



Timeframe for implementation of Ind AS for scheduled commercial banks


The Reserve Bank of India notified scheduled commercial banks are required to comply with Indian Accounting Standards (Ind AS) for accounting periods beginning 1 April, 2018. Ind AS shall be applicable to both standalone financial statements and consolidated financial statements. It can be applied only as per timelines specified and advance adoption is not permitted.

Tags : Indian accounting standards commercial banks implementation

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