CA World: Week 3, September 2017

The difference in winning and losing is most often…not quitting.  Don’t quit now and stay happy in your journey to become an excellent CA. Because, we do not generally quit something when we are happy

Here come the updates from CA world for the week 3 of September. Happy Learning!

CA Related Updates

(11th– 17th September 2017)

1. Reserve Bank of India (RBI) releases “Handbook of Statistics of Indian Economy 2016-17”

Handbook of Statistics (HBS) on the Indian Economy 2016-17 was released by RBI on 15-September-2017 which provides time series on various economic and financial indicators of Indian economy.
This handbook contains 248 statistical tables covering various socio-economic factors such as national income aggregates, money, bankingand financial markets.

You can read more about this here

2. Release of monthly bulletin by Reserve Bank of India (RBI)

The Reserve Bank of India released the September 2017 issue of its monthly Bulletin on 11-Sep-2017which includes speeches by the Top Management, two Articles and Current Statistics.Monthly Seasonal Factors of Selected Economic Time Seriesand Private Corporate Investment: Growth in 2016-17 are the two articles in this month’s bulletin.

You can read more about this here

3. Obligation to comply with the Ind AS and Rule 4 of Companies (Indian Accounting Standards) Rules, 2015 by Payment Banks and Small Finance Banks which are subsidiaries of Corporates

MCA, vide notification dated 13 September 2017, has clarified that the holding company if it is covered by the corporate sector roadmap for implementation of Ind AS, should follow the corporate sector roadmap and if such holding company has a payment bank or small finance bank as its subsidiary then the subsidiary company should follow the banking sector roadmap. However, the payment banks or small finance banks should provide the Ind AS financial data to its holding company for the purpose of consolidation.

You can read more about this here

4. Amendment to CA Regulations, 1988

Institute of Chartered Accountants of India (ICAI) has amended CA Regulations 1988 which allows a student who has passed either or both groups of IPCC can commence their practical training.

You can read more about this here

We hope you had a happy learning. See you again next Monday.

Keep Rising and Keep Shining.

Project Veda

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