RBI rolls out norms for Ind-AS implementation by NBFCs, ARCs

Mumbai: The Reserve Bank on Friday came out with regulatory guidelines for implementation of Indian Accounting Standards (Ind-AS) by non-banking financial companies (NBFCs) and asset reconstruction companies (ARCs) while preparing their financial results.

The guidelines, which are aimed at promoting high quality and consistent implementation of Ind-AS as well as facilitate comparison and better supervision, will be applicable to NBFCs and ARCs for preparations of their financial results from FY20 onwards, RBI said in a notification.

The guidelines mandate NBFCs/ ARCs to put in place board-approved policies that clearly articulate and document their business models and portfolios.


NBFCs/ARCs shall frame their policy for sales out of amortised cost business model portfolios and disclose the same in their notes to financial statements.