International Financial Reporting Standards (ifrs)

Recapitalisation would partly bridge the NPL provision gap and it would be concentrated more to the efficient and larger banks, Vishal Goyal, Head of Banks Research at UBS Securities India said,

AAI to rope in consultant for Ind AS implementation

To ensure a smooth transition to the new accounting standard, AAI will appoint a professional consultant which will carry out impact assessment and train its officials.

Advisory body seeks deference of adoption of IndAS standard

India was slated to be an early adopter of the International Financial Reporting Standards (IFRS) revenue recognition standard. But since the global standard itself is under review, NACAS recommended a deferral of the Indian standard as well.