MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi,
S.O. 4343(E).— In exercise of the powers conferred by sub-section (1) of section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, on the recommendation of the Reserve Bank of India, hereby declares that the provisions of sub-section (1) of section 15 of the said Act shall not apply to a banking company in so far as it relates to the treatment of unamortized expenditure on account of recognition of income under the “Effective Interest Rate” method as specified in the Reserve Bank of India (Commercial Banks – Asset Classification, Provisioning and Income Recognition) Directions, 2026, issued vide circular number, RBI/DOR/2026-27/398, dated the 27th April, 2026.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.