MUMBAI, Sept 12 - The Reserve Bank of India has revised its guidelines on how banks need to categorise their investments in a bid to align them with global standards, it said in a release on Tuesday.
The new norms also do away with the 90-day ceiling on holding period under HFT, while removing ceilings on the held-to-maturity category of banks' investment portfolio. The revised guidelines will be effective from April 1, 2024.The valuation gains and losses across all performing investments held under AFS shall be aggregated and directly credited or debited to a reserve named 'AFS reserve' without routing through the profit & loss account of banks, the revised norms state.
The HFT sub-category shall be fair-valued on a daily basis, while the rest of the investments under FVTPL shall be fair-valued at least on a quarterly basis, if not more frequently, the guidelines showed.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: GlobalCalgary - 🏆 50. / 61 Read more »