OBS_VALUE: India has not adopted the IFRS Standards. Note, however, that the 2015 Indian Accounting Standards Rules (Ind AS) is based on and substantially converged with the IFRS Standards. However, section 5 of the Ind AS Rules explicitly excludes banking (and insurance) companies from applying these standards, and instead they are required to follow the standards prescribed by the Reserve Bank of India. The RBI announced plans to apply the Ind AS for these institutions from 2018-2019 onwards. See additionally the IFRS profile of India (as of 02/09/2020): https://www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/india/