Revenue recognition norms for Nidhi and Mutual Benefit Societies require asset classification and updated regulatory compliance. Norms establish standards for revenue recognition and classification of assets for Nidhi companies and Mutual Benefit Societies, circulated via two Gazette notifications: one amending directions for compliance and the other setting asset classification and revenue recognition norms that supersede the prior notification. The Department of Company Affairs instructs Regional Directors, Registrars of Companies and Official Liquidators to implement the updated regulatory instructions and acknowledge receipt.