RBI’s Financials Presentation & Disclosures Directions apply to Central/State Co-op Banks
- Blog|News|FEMA & Banking|
- < 1 minute
- By Taxmann
- |
- Last Updated on 22 February, 2023
Latest from Taxmann
Circular no. RBI/2022-23/181 DOR.ACC.REC.No.103/21.04.018/2022-23, dated 20.02.2023
Earlier, the RBI (Financial Statements-Presentation and Disclosures) Directions, 2021 were applicable to Commercial Banks and Primary Urban Co-operative Banks (UCBs). These harmonizes the regulatory instructions on presentation and disclosure in financial statements across the banking sector.
Now, in consultation with the National Bank for Agriculture and Rural Development (NABARD), the RBI has decided to make this Master Direction also applicable to the State and Central Cooperative Banks (also referred to as ‘District Central Co-operative Banks’).
Further, the Master Direction shall apply to State and Central Cooperative Banks (together referred to as ‘Rural Co-operative Banks’ or RCBs) mutatis mutandis, unless explicitly specified otherwise, from the financial year ending March 31, 2023. Also, certain disclosure requirements specified in Annex III-A shall be applicable to RCBs, from the financial year ending March 31, 2024.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
