Ind AS adoption for banks could be deferred till FY24, say sources

Extended dispensation on capital conservation buffer and SLR holding in HTM instruments point at a delay in adoption

With some of the key reserve requirements getting further leeway for implementation, sources indicate that the adoption of Indian Accounting Standards (Ind AS) for banks may be further extended by two years – till FY24. 

Banks were expected to adopt Ind AS from April 1, 2018, though on April 5, 2018, the Reserve Bank of India (RBI) deferred its implementation by a year to FY 2019-20. Again, on March 22, 2019, it deferred the accounting standards implementation indefinitely. 

“There were earlier talks about Ind AS adoption in FY22, but due to the pandemic there was no progress. Now with the