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of <h1>SEBI Clarifies Optional Compliance for Four Accounting Standards by Banks Until March 31, 2002; Mandatory from April 1, 2002.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) on June 26, 2002, addresses stock exchanges regarding compliance with Accounting Standards by listed companies. It references a previous circular mandating adherence to standards issued by the Institute of Chartered Accountants of India. However, due to difficulties expressed by banks, the Reserve Bank of India has made compliance with four specific Accounting Standards optional for banks for the financial year ending March 31, 2002. These standards include AS-17, AS-18, AS-21, and AS-22. Compliance will be mandatory for banks starting from the financial year commencing April 1, 2002.
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