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BRIEF-India cenbank clarifies on banks' compliance with accounting standard related to forex rate changes
April 18, 2017 / 12:18 PM / 3 months ago

BRIEF-India cenbank clarifies on banks' compliance with accounting standard related to forex rate changes

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April 18 (Reuters) - Reserve Bank of India:

* RBI - guidelines on compliance with accounting standard (AS) 11 [the effects of changes in foreign exchange rates] by banks

* RBI -banks shall not recognise in P&L A/C proportionate exchange gains/losses in foreign currency translation reserve on repatriation of profits from overseas operations Source text - (bit.ly/2nYxVxU)

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