GAAP stands for Generally Accepted Accounting Principles, which includes Indian GAAP, Ind AS, IFRS, US GAAP, or any other prescribed accounting framework.
In this Early impressions publication we have analysed the RBI (India’s central bank). The RBI strongly supports equality and fairness amongst lenders. This includes fairness in lending processes. This publication discusses our views on their recent notification to enhance this practice for retail/MSME borrowers.