RBI forms panel on IFRS implementation 

The Reserve Bank of India (RBI) has constituted a working group to address the implementation issues and facilitate the formulation of operational guidelines in the context of International Financial Reporting Standards (IFRS) convergence for the countrys banking system. The committee will be chaired by PR Ravi Mohan, chief general manager, Department of Banking Operations & Development (DBOD). The members include representatives from the Indian Banks Association (IBA), Institute of Chartered Accountants of India (ICAI) and various regulatory and market-related departments of RBI. Besides, professionals with core competence, expertise and experience in IFRS implementation have been drafted in the group as special invitees.

Economic Times, New Delhi, 24-07-2010