Greeting of the day! I am Amit Agrawal, working in a Joint venture company of state govt and two PSE. The company is shifting to IndAS from existing IGAAP because of it is a JVC of a PSE on which IndAS is applicable in first phase. My question is, for implementation of IndAS w.e.f 01.04.2015, how to determine effective rate for discounting of financial assets and financial liabilities. As of now the JVC is neither having borrowings nor any subordinate debts or loan at concessional rate of interest. We need your valuable suggestions to resolve the same.
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Effective discount rate for IndAS
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Here is a compilation of discount rates compiled by Numerica, based on yield curves produced by CCIL: INR interest rate curves
These can be used as a proxy to risk-free interest rates under various Indian Accounting Standards, such as Ind AS 19, Ind AS 109, Ind AS 102 etc. However, please assess that the rates are appropriate given your specific requirements.
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