MUMBAI, India, May 18 -- Reserve Bank of India issued the following press release:
Reserve Bank of India had issued the draft Amendment Directions proposing review of the norms on Investment Fluctuation Reserve (IFR) for various bank categories, seeking feedback from stakeholders. The draft Amendment Directions proposed (i) to dispense with the IFR requirement for bank categories maintaining capital charge for market risk and following the revised norms on classification, valuation, and operation of investment portfolio; (ii) that the remaining Regulated Entity categories shall comply with the IFR requirement as on balance sheet dates instead of on a continuous basis; and (iii) to harmonise certain IFR-related instructions across various c...