The Central Government through notification dated 18th June, 2021 has issued the Companies (Indian Accounting
Standards) Amendment Rules, 2021. To enable users of financial statements to understand the effect of interest rate benchmark reform on an entity‘s financial instruments and risk management strategy, an entity shall disclose information about:
- The nature and extent of risks to which the entity is exposed arising from financial instruments subject to interest rate benchmark reform, and how the entity manages these risks; and
- The entity‘s progress in completing the transition to alternative benchmark rates, and how the entity is managing the transition
