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Liability for enhancement of family pension to be fully recognised as per applicable Accounting Standards: RBI

October 5, 2021
The Reserve Bank has permitted banks to amortise the additional liability on account of revision in family pension. In addition to foregoing, it has clarified that the liability for enhancement of family pension shall be fully recognised as per applicable Accounting Standards and it will be required to make appropriate disclosures of the accounting policy followed in this regard in the ''Notes to Accounts'' to the financial statements.
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