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    <title>Regarding Norms for revenue recognition and classification of assets applicable to Nidhi or Mutual Benefit Society.</title>
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    <description>Two Notifications dated 26.07.2001-GSR 555(E) and GSR 556(E)-were circulated directing compliance by Nidhi and Mutual Benefit Societies, with GSR 555(E) issuing mandatory directions and superseding earlier GSRs and GSR 556(E) prescribing norms for revenue recognition and classification of assets; recipients were instructed to implement the Notifications and acknowledge receipt.</description>
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