New draft IRAC directions have been introduced which deal with: (i) introduction of staging criteria for asset classification under Expected Credit Loss (ECL) approach; (ii) replacement of the incurred-loss-based provisioning framework with an expected credit loss approach; and (iii) updating the provisions of income recognition including Effective Interest Rate method.
We are analysing the draft directions and our detailed assessment of the same shall be shared in the coming days.
For further details, please see:
For any queries / clarifications, please feel free to ping us and we will be happy to chat:
