The Reserve Bank of India (RB

• I has revised investment norms for commercial banks, making it more rigid as it created a new category namely – fair value through profit and loss (FVTP
• L . Consider the following statements with respect to the information provided- I.  From April 1, 2024, banks will classify their entire investment portfolio (except investments in their own subsidiaries, joint ventures and associates) under three categories - held to maturity , available for sale , and fair value through profit and loss . II. Sale of investments from the HTM category in any financial year should not exceed 10 percent of the opening carrying value of the HTM portfolio. III.The banks should create an investment fluctuation reserve (IF
• R until the amount of IFR is at least 2 per cent of the AFS and FVTPL (including HF
• T portfolio, on a continuing basis. Which of the following statements is/are incorrect?