Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

NBFCs all set to adopt Indian Accounting Standards

NBFC

NBFCNon-Banking Financial Companies (NBFCs) are going to adopt new Indian Accounting Standards (Ind-AS) from April 1, confirmed the Ministry of Corporate Affairs.

In a core group meeting called on May 25, the ministry discussed the implementation of new Indian Accounting Standards (Ind-AS) for the NBFCs. The confusion on the implementation came to the light after Reserve Bank of India chose to defer Ind-AS implementation for banks by a year.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

However, RBI’s stand on NBFCs was uncertain. The National Housing Bank (NHB), the regulator for housing finance companies, later clarified the matter for its members.

AdvertisementSAAS

The Finance Industry Development Council (FIDC), an umbrella body for NBFCs, are pitching for implementation of these new accounting standards to match the global benchmarks accepted International Financial Reporting Standards (IFRS).

The core meeting was also attended by representatives of the RBI, the National Advisory Committee on Accounting Standards (NACAS), the Department of Financial Services, NHB and FIDC officials.

AdvertisementInfoComm India 2026

Industry bodies namely FICCI, CII and Assocham also participated in the meeting. The NHB had also attended the meeting.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of NBFCs

Cholamandalam Finance Q2 FY27: Profit Jumps 41% to ₹1,630 Crore, Board Clears ₹5,000 Crore QIP

Cholamandalam Investment and Finance Company (CIFCL), the Murugappa Group's flagship non-banking finance company, has reported a 41% year-on-year… Read more →

PNB Housing Finance Q2 FY27: Disbursements Jump 60% to ₹9,609 Crore, Profit Rises 6% to ₹617 Crore

PNB Housing Finance has posted its strongest quarter yet on the origination front. The Punjab National Bank-promoted housing… Read more →

Five-Star Business Finance Q2 FY27 Profit Rises 5% to ₹299 Crore as Disbursements Hit Record ₹2,078 Crore

Five-Star Business Finance, the Chennai-headquartered non-banking financial company that lends to small business owners and self-employed borrowers, reported… Read more →

Tata Capital Q2 FY27 Profit Jumps 51% to ₹1,660 Crore as Loan Book Crosses ₹3 Trillion; AI Now Processes 70% of Retail Applications

Tata Capital Ltd, the financial services arm of the Tata Group, has reported a 51.3% year-on-year rise in… Read more →

NBFCs Rein In Rural Lending in Drought-Hit Districts as Weak Monsoon Raises Repayment Risk

India's largest non-banking financial companies are turning cautious in the countryside. Shriram Finance, Mahindra & Mahindra Financial Services… Read more →

NBFCs Seek Five-Year Glide Path as IRDAI Weighs Insurance Commission Caps

India's non-banking finance companies have asked the Insurance Regulatory and Development Authority of India (IRDAI) for a five-year… Read more →

whatsapp--v1