IFRS 9: FUTURE FINANCIAL INSTRUMENT
(SIGNIFICANT FOR BANKS AND FINANCIAL INSTITUTIONS)
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CURRENT STATUS

IFRS 9 has been issued for financial assets
Standards relating to financial liability, impairment, derecognition and hedging will be issued in a phased manner
Impact of IFRS 9 on banks are significant

HELD TO MATURITY CLASSIFICATION

Banks have to invest in government securities to comply with RBI’s prudential norms
As [...]