RBI defers launch of IndAs again, awaits amendments to the banking laws

The Reserve Bank of India (RBI) has postponed roll out of the new accounting standards (IndAS) for the second time. 

It is awaiting amendments to the banking laws before adopting the norms. The central bank, however, did not specify the new date for its implementation.

In a late night statement, the RBI said the legislative amendments recommended by it are under consideration of the Centre. Acco­rdingly, it has been decided to defer implementation of the IndAS till further notice.    

Earlier, at its first bi-monthly monetary policy for 2018-19 (on April 5, 2018), the RBI had postponed the launch by one year, pending