• Oct
  • 23
  • 2009

RBI circular on submission of certificate from Statutory Auditor to the Bank on NBFC Audit

RBI/2009-10/ 187  , DNBS (PD) CC. No. 162 /03.05.002 / 2009-2010 October 22 , 2009

Submission of certificate from Statutory Auditor to the Bank

In terms of Para No. 15 of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, every non-banking financial company has to submit a Certificate from its Statutory Auditor that it is engaged in the business of non-banking financial institution requiring it to hold a Certificate of Registration under Section 45-IA of the RBI Act. A certificate from the Statutory Auditor in this regard with reference to the position of the company as at end of the financial year ended March 31 has to be submitted to the Regional Office of the Department of Non-Banking Supervision under whose jurisdiction the non-banking financial company is registered, latest by June 30, every year.

2. It has been decided that the NBFCs may submit the certificate within one month from the date of finalization of the balance sheet and in any case not later than December 30th of that year.

3. Notifications No. 209 amending Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions,2007 and No. 210 amending Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued as on date are enclosed for meticulous compliance.

Yours sincerely

(A. Narayana Rao)

Chief General Manager-In-Charge

RESERVE BANK OF INDIA

DEPARTMENT OF NON-BANKING SUPERVISION

CENTRAL OFFICE

CENTRE I, WORLD TRADE CENTRE,

CUFFE PARADE, COLABA,

MUMBAI 400 005.

Notification No. DNBS. (PD) 209 / CGM(ANR)-2009 dated October 22, 2009

The Reserve Bank of India, having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 contained in Notification No. DNBS. 192/DG(VL)-2007 dated February 22, 2007 in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said directions shall be amended with immediate effect as follows, namely -

In paragraph 15, the words “latest by June 30, every year.” will be substituted by the following:

“within one month from the date of finalization of the balance sheet and in any case not later than December 30th of that year.”

(A. Narayana Rao)

Chief General Manager-In-Charge

RESERVE BANK OF INDIA

DEPARTMENT OF NON-BANKING SUPERVISION

CENTRAL OFFICE

CENTRE 1, WORLD TRADE CENTRE

CUFFE PARADE, COLABA

MUMBAI – 400 005

Notification No. DNBS (PD). 210/CGM (ANR)-2009 dated October 22, 2009

The Reserve Bank of India, having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 contained in Notification No. DNBS. 193/DG(VL)-2007 dated February 22, 2007 in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said directions shall be amended with immediate effect as follows, namely -

In paragraph 15, the words “latest by June 30, every year” will be substituted by the following:

“within one month from the date of finalization of the balance sheet and in any case not later than December 30th of that year.”

(A. Narayana Rao)

Chief General Manager In-Charge

Sandeep Kanoi

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