RBI tightens return filing format for NBFCs
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RBI tightens return filing format for NBFCs

Last Updated: Thursday, September 22, 2011, 22:32
 
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RBI tightens return filing format for NBFCs
Mumbai: The Reserve Bank Thursday tightened the return filing format for non-banking financial companies (NBFCs) under which they will have to make disclosures about their deposit and lending activities to the central bank more frequently.
     
As per the new regulation, deposit taking NBFCs would have to submit reports on deposits and prudential norms to the RBI on quarterly basis, as against annual and half-yearly basis respectively earlier.
     
Similarly, the apex bank asked non-deposit taking NBFCs to file statements on capital funds, risk weighted assets, risk asset ratio, among others on quarterly basis.
     
The regulations relating to reporting about liquid asset, exposure to capital markets, among others have been retained.
     
The deposit taking NBFCs will have to file quarterly returns on liquid assets to the RBI. Also, NBFCs with a total asset of Rs 100 crore and above will file monthly returns on exposure to capital market, the notification said.
     
Non-deposit taking NBFCs would continue to file monthly returns on important financial parameters.
     
RBI said the returns, under the new norms, concerning deposits, prudential norms for deposit taking NBFCs and statement of capital funds, risk weighted assets, risk asset ratio for non-deposit taking NBFCs should be submitted for the July-September quarter.
     
All these filings will have to be done by NBFCs to the central bank in the revised formats notified by the apex bank, the RBI said.

PTI



First Published: Thursday, September 22, 2011, 22:32


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