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NBFC Compliance and Return - Taxguru - in

This document outlines the various returns that non-banking financial companies (NBFCs) in India are required to submit to the Reserve Bank of India (RBI) based on their asset size and whether they accept deposits. It provides details on the periodicity and deadlines for submitting returns such as branch information, overseas investments, audited financial statements, and asset-liability management. NBFCs must adhere strictly to the timeframes for submitting returns or face penalties, and the information provided must be accurate otherwise RBI may take serious action.

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146 views7 pages

NBFC Compliance and Return - Taxguru - in

This document outlines the various returns that non-banking financial companies (NBFCs) in India are required to submit to the Reserve Bank of India (RBI) based on their asset size and whether they accept deposits. It provides details on the periodicity and deadlines for submitting returns such as branch information, overseas investments, audited financial statements, and asset-liability management. NBFCs must adhere strictly to the timeframes for submitting returns or face penalties, and the information provided must be accurate otherwise RBI may take serious action.

Uploaded by

caaashishupadhyay9579
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NBFC COMPLIANCE AND RETURN

https://taxguru.in/rbi/nbfc-compliance-return.html

NBFC Compliance and Return

The Non-Banking Financial Companies (NBFCs) are required to submit various returns to RBI w.r.t their
deposit acceptance, prudential norms compliance, ALM etc. in accordance with Master Direction- Non-
Banking Financial Company Returns (Reserve Bank) Directions, 2016. The master directions lay down the
foundation for RBI compliant and safe NBFC operational practices. NBFC Compliances and Returns are
comprehensive and need to be read carefully so as to avoid penal action by RBI.

Return to be submitted by Non-Deposit taking NBFC

? NBFC having assets size below Rs. 100 Cr (NBFC-ND)


Name of Return Periodicity Time Period
1. Branch Info Return Quarterly 15 days
2. Overseas Investment Return Quarterly 15 days
3. Return on FDI Half Yearly 30 days
4. NBS-9 Annually 60 days

5. SAC Annually 1 month

? NBFC having assets size Rs. 100 – 500 Cr (NBFC-ND)

Name of Return Periodicity Time Period


1. Return on Important Financial Parameters Monthly 7 days
2. ALM-1 Quarterly 15 days
3. Branch Info Return Quarterly 15 days
4. Overseas Investment Return Quarterly 15 days
5. Return on FDI Half Yearly 30 days
6. ALM-2 Half Yearly 30 days
7.ALM-3 Half Yearly 30 days
8. ALM Yearly Annually 15 days
9.NBS-8 Annually 60 days

10. SAC Annually 1 month

? NBFC having assets size Rs. 500 Cr and above (NBFC-ND-SI)


Name of Return Periodicity Time Period
1. Return on Important Financial Parameters Monthly 7 days
2. ALM-1 Quarterly 15 days
3. Branch Info Return Quarterly 15 days
4. NBS-7 Quarterly 15 days
5. Overseas Investment Return Quarterly 15 days
6. CRILC Quarterly 21 days
7.Return on FDI Half Yearly 30 days
8. ALM-2 Half Yearly 30 days
9. ALM-3 Half Yearly 30 days
10. ALM Yearly Annually 15 days
11. NBS-8 Annually 60 days

12. SAC Annually 1 month

13. SMA-2 Return Weekly On Every Friday


As at the end of March every year, all NBFCs are required to submit;

? An annual certificate duly certified by the Statutory Auditors that the company is engaged in the
business of NBFI requiring it to hold the CoR.

? The certificate shall also indicate the asset / income pattern of the NBFC for making it eligible for
classification as AFC, Investment Company, or Loan Company.

? Audited financial statement along with Directors Report.

? Board Resolution of non-acceptance of public deposit by non-deposit taking NBFC.

? an annual return on Foreign Liabilities and Assets (FLA) by 15th July every year.

Return to be submitted by Deposit Taking NBFC

? Deposit taking NBFC (NBFC-D)


Name of Return Periodicity Time Period
1. NBS-1 Quarterly 15 days
2. NBS-2 Quarterly 15 days
3. NBS-3 Quarterly 15 days

4. NBS-6 Monthly 7 days

5. Overseas Investment Return Quarterly 15 days


6. Branch info return Quarterly 15 days
7. CRILC Quarterly 21 days
8. ALM (NBFC-D) Half yearly 30 days
9. Return on FDI Half Yearly 30 days
10. NBS-8 Annually 60 days

11. SAC Annually 1 month

12. SMA-2 Return Weekly On Every Friday


Notes:-

? All the NBFCs are required to put in place a reporting system for filing various returns within the
prescribed timeframe. There should not be delay in submission of return for any reason such as the
finalization/completion of the Audit of the annual accounts.

? The returns shall be filed on-line by an authorised official of the NBFC, who will be specifically
authorised in this regard by the Board of Directors.

? The NBFCs need to strictly adhere to the timeframe fixed for submitting returns to RBI failing which
concerned NBFCs would be liable for penal action as prescribed under the provisions of Chapter V of the
RBI Act.

? It may be carefully noted that in case the information/particulars furnished by a NBFCs is found
incorrect, Reserve Bank of India would take a serious view in the matter.

Disclaimer: This document developed for academic purposes only, is based on the information available in
public domain. The author shall not be responsible for any loss or damage caused due to any action taken on the
basis of information contained in this document. Any person wishing to act on the basis of the information
contained in this document should do so only after cross checking with the original source.

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