Sponsored
    Follow Us:
Sponsored

Introduction: Non-Banking Financial Companies (NBFCs) operate within a regulatory framework governed by the Reserve Bank of India (RBI). To ensure adherence to regulations, NBFCs must comply with various filings and timelines outlined by the RBI. This article serves as a consolidated guide for NBFC compliance officers, CFOs, and company secretaries, offering insights into the regulatory landscape and essential filings required for regulatory compliance.

NBFC: A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or  installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).

NBFC Compliances

OBJECTIVE

Non-Banking Financial Companies (NBFCs) are directed by Reserve Bank of India to submit various returns w.r.t., to their deposit acceptance, prudential norms compliance, ALM etc. within a specified timelines in accordance with various Master Directions. NBFC Compliances and Returns are comprehensive and require time-bound reporting, so as to avoid penal action by RBI. This is an effort toconsolidate the Compliances to provide a handy guide for all Compliance Officers, CFOs, Company Secretaries, to have a holistic view of compliance filing dates across various applicable laws, along withRegulating documents for NBFC Industry.

ABBREVIATIONS

SAC Statutory Auditor Certificate
DNBS Department of Non-Banking Supervision
NBFC-ND-SI Non Deposit taking Systemically Important
NBFC Non-Banking Financial Company
HFC Housing Finance Company
FAFT Financial Action Task Force
NBFC-UL Non-Banking Financial Company- Upper Layer
NBFC-ML Non-Banking Financial Company- Middle Layer
NBFC-BL Non-Banking Financial Company- Base Layer
NOFHCs Non-Operative Financial Holding Company
LCR Liquidity Coverage Ratio
CRILC Central Repository of Information on Large Credits
SMA Special Mention Account
ALM Asset Liability Management
NBFCs-D Non-Banking Financial Company taking deposit
NBFC-CIC Non-Banking Financial Company- Core Investment Company

YEARLY FILINGS/INTIMATIONS

S.No. Particulars Description Applicability Filling Dates Regulating Document
1. DNBS10 Statutory Auditor Certificate (SAC) Return for Continued Regulatory Compliance All NBFC and ARC 31st December Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
2. DNBS02 Financials details like components of assets and liabilities, prudential norms Non Deposit Taking Non -NDSI 30th May Master Direction-NBFC Returns
3. Schedule- I Return Details of public deposits, category wise distribution of housing loan to individual or state or union territories HFC 30th June Master Circular-Returns HFC
4. Statutory Auditor Certificate Statutory auditor certificate(SAC) return on certificate of registration as housing finance company HFC 30th June Master Circular-Returns HFC
5. FAFT Compliance Certificate For Compliance with the Norms specified by RBI, in respect of Investment from FATF non-compliant jurisdictions HFC 30th June Master Circular-Returns HFC
6. Declaration Board resolution for not accepting/ holding any public deposit NBFC – ICC 30th April Master Direction-NBFC- Acceptance of Public Deposit Direction, 2016
7. Declaration Board Resolution for Acquisition of Shares/ Securities of its own Group /Holding/ Subsidiary Companies Company which has acquired shares/ securities of its own group /holding/ subsidiary companies 30th April Master Direction-NBFC- Acceptance of Public Deposit Direction, 2016
8. Form – A Certificate Regarding appointment of Statutory Central Auditor(SCA)/ Statutory Auditor (SA) All NBFCs 21st April Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024

HALF-YEARLY FILINGS/INTIMATIONS

S. No.

Particulars Description Applicability Filling Dates Regulating Document
1. Statement on Interest Rate Futures (IRF) Transaction NBFC Participating in Interest Rate Future Exchanges for hedging their underlying exposures NBFC including HFC participating in interest rate future exchanges
  • 30th April,
  • 31st October
Master Direction-Scale Based Regulation, Master Circular-Returns HFC
2. Schedule-IIReturn Information on various Prudential Norms i.e., Capital Adequacy, Asset Classification, Provisioning Net Owned Funds etc. HCF
  • 12th May
  • 12th November
Master Circular-Returns HFC
3. ALM-II Statement of Structured Liquidity and Interest Rate Sensitivity HFC taking deposit and all non-deposit taking HFC with asset size of Rs.100 cr. And above
  • 12th May
  • 12th November
Master Circular-Returns HFC
4. FDI– SAC Compliance with the terms and conditions of foreign direct investment (FDI)-SAC HFC having Foreign Direct Investment
  • 30th April,
  • 31st October
Master Circular-Returns HFC

QUARTERLY FILINGS/INTIMATIONS

S. No.
Particulars
Description
Applicability
Filling Dates
Regulating Document
1.
Annex X
Report on Pledged Securities in their favour by the borrowers for availing loans
NBFC having asset size of Rs. 100cr .And above
30th June
30th September
31st December
31st March
Master Direction-Scale Based Regulation
2.
Notification /Email
Statement to Communicate Principal and interest, EMI amount, number of EMIs left
All NBFC including HFC
30th June
30th September
31st December
31st March
Master Direction– HFC, Master Direction- Scale Based Regulation
3.
Report on Total Exposure
Having Assumed Exposures against borrowers in excess of the normal exposure limits
All NBFC
30th June
30th September
31st December
31st · March
Master Direction-Scale Based Regulation
4.
Statement
Statement for Change in Directors as per Fit and Proper Criteria
NBFC-ML, NBFC-UL, HFC
15th July
15th October
15th January
15th April
Master Direction-Scale Based Regulation, Master Direction-HFC
5.
DNBS01
Financial Details, viz. Components of Assets and Liabilities, Profit and Loss Account, Exposure to Sensitive Sectors
NBFC-UL,
NBFC-ML except NBFC-CIC
21st July
21st October
21st January
21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
6.
DNBS03
Important Prudential Parameters- Contains prudential norms, e.g.,capital adequacy, provisioning etc.
NBFC-UL, NBFC-ML except NBFC-CIC
21st July
21st October
21st January
21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns)Directions, 2024
7.
DNBS04A
Statement on Short Term Dynamic Liquidity (STDL) contains data on Asset Liability Mismatches (ALM)and Interest Rate Sensitivity(IRS), liquidity risk of exposures.
NBFC-UL,
NBFC-ML
(except NBFC-SPD), NBFC-BL with asset size of ₹100 crore and above solely or at Group level, excluding Type-I NBFCs, and NOFHC,P2Ps, AAs, and Mortgage Guarantee Companies
21st July
21st October
21st January
21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
8.
DNBS07
ARCs Important Financial Parameters- contains data on assets and liabilities, assets acquired from Banks/FIs, acquisition cost, trusts formed, recovery status of acquired assets etc.
ARC
21st July
21st October
21st January
21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
9.
DNBS13
Return on Overseas Investment details for all NBFCs having overseas investment
 All NBFCs
21st July
21st October
21st January
21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
10.
Notification/Email
Communicating Particulars of Public Deposit to Respective Branches
HFC
10th July
10th October
10th January
10th April
Master Direction-HFC
11.
Annexure VI
Report on Detection and Impounding of Counterfeit Notes
HFC
7th July
7th October
7th January
7th April
Master Circular-Returns HFC
12.
Schedule-III Return
Details on Statutory Liquidity Ratio (SLR),structural liquidity &interest rate sensitivity
HFC
15th July
15th October
15th January
15th April
Master Circular-Returns HFC
13.
Schedule-IV Return
Financial details viz. Components of Asset and Liability, Profit and Loss Account, Exposure to Sensitive Sector
HFC
15th July
15th October
15th January
15th May
Master Circular-Returns HFC
14.
ALM-I
Statement on Short Term Dynamic Liquidity (STDL)
HFC taking deposit and all non-deposit taking HFC with asset size of Rs.100 cr. And above
10th July
10th October
10th January
10th April
Master Circular-Returns HFC
15.
20- Major Exposure Return
Details of large borrowers
HFC
10th July
10th October
10th January
10th April
Master Circular-Returns HFC
16.
Broad Liquidity Return
Details of liability and asset of large HFC
Deposit taking HFC irrespective of asset size
10th July
10th October
10th January
10th April
Master Circular-Returns HFC
17.
Overseas Investment Report
Report on overseas investment details
Deposit and non-deposit taking HFC
15th July
15th October
15th January
15th April
Master Circular-Returns HFC
18.
Periodic Report
Analysis of complaints on activities of internal ombudsman
Internal Ombudsman of Regulated Entity
10th July
10th October
10th January
10th April
Master Direction-RBI (Internal Ombudsman for Regulated Entities) Directions, 2023
19.
FMR4
Capture the updated information report on dacoities / robberies / theft /burglaries
NBFC-UL, NBFC -ML, and NBFC-BL which are NBFC-ICC,NBFC-MFI, NBFC-Factors having asset size of ₹500crore and above
21st July
21st October
21st January
21st April
Master Direction –Reserve Bank of India (Filing of Supervisory Returns)Directions,2024
Master Direction -monitoring of frauds in NBFCs (reserve bank) directions, 2016
20.
DNBS02
Important Financial Parameters
NBFC-BL except NBFC– P2P
15th July
15th October
15th January
15th April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns)Directions, 2024
21.
Appendix VI-A
Public Disclosure on the soundness of Entities liquidity risk management framework and liquidity position
All NBFC
31st March
30th June
30th September
31st December
Master Direction– Scale Based Regulations
22.
DNBS 11
CICs Important Financial Parameters
NBFC – CICs
  • 21st July
  • 21st October
  • 21st January
  • 21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
23.
DNBS 12
CICs Important Financial Parameters
NBFC – CICs
  • 21st July
  • 21st October
  • 21st January
  • 21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
24.
DNBS 14
P2P- Important Financial &Prudential Parameters
NBFC – P2Ps
  • 21st July
  • 21st October
  • 21st January
  • 21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
25.
Financial Soundness Indicators(FSI)
Consolidated Financial Soundness Indicators (FSI)to International Monetary Fund(IMF)
All NBFC and ARC (except HFC)
  • 21st July
  • 21st October
  • 21st January
  • 21st April
Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024

MONTHLY FILINGS/INTIMATIONS

S. No. Particulars Description Applicability Filling Dates Regulating Document
1. Annex XXV Reporting of Large Exposure NBFC – UL By end of each month Master Direction-Scale Based Regulation
2. Annex XIX Information of borrowers whose secured assets is possessed All NBFC including HFC By end of each month Master Direction-Scale Based Regulation, Master Direction-HFC
3. DNBS04B Return on Structural Liquidity & Interest Rate Sensitivity NBFC-UL,NBFC-ML except Standalone Primary Dealers ,and NBFC-BL with asset size of ₹100 crore and above solely or a Group level, excluding Type-I NBFC, and NOFHC, P2P, AA, and Mortgage Guarantee Companies Within 15days from end of each month Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
4. DNBS08 CRILC main return NBFC-ULNBFC-ML (except NBFC-CIC),and NBFC-BL which are NBFC-ICC,NBFC-MFI,NBFC-Factors having asset size of ₹500crore and above solely or at Group level Within 15days from end of each month Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
5. Annexure XVII Information on wilful default of 25 lakh or above to credit information company HFC By 15th of subsequent month Master Direction-HFC
6. Schedule –V Capture trend in loans and advances, borrowings, asset quality, interest rate structure HFC Within 10days from end of month Master Circular-Returns HFC
7. Report on Cash Transaction(CTR) Report on Cash Transaction (CTR) to FIU India All NBFC By 15th of succeeding month Master Direction -Know Your Customer (KYC)Direction, 2016

WEEKLY FILINGS/INTIMATIONS

S. No. Particulars Description Applicability Filling Dates Regulating Document
1. DNBS09-CRILC RBD NBFCs having aggregate exposure of ₹5 crore and above to a single borrower reported in SMA-0 for the week NBFC-UL, NBFC –ML except NBFC-CICs, and NBFC-BL which are NBFC-ICC,NBFC-MFI,NBFC-Factors having asset size of ₹500crore and above solely or at Group level On or before Wednesday of the following week Master Direction– Reserve Bank of India (Filing of Supervisory Returns) Directions, 2024
2. LCR Return Capture Liquidity Coverage of the HFC HFC taking deposit, all non –deposit taking HFC with asset size of Rs.5000 cr. And above Within 5days from the week ending on Friday Master Circular-Returns HFC

Conclusion: Adhering to NBFC compliances is crucial for maintaining regulatory compliance and avoiding penal actions by the RBI. By understanding the regulatory requirements and diligently following the prescribed timelines for filings and intimations, NBFCs can navigate the compliance landscape effectively. Stay informed, stay compliant, and ensure the smooth operation of your NBFC within the regulatory framework.

Sponsored

Tags:

Author Bio

Payal Gupta is a student of the Institute of Company Secretaries of India pursuing CS. She has completed her B.Com course from Calcutta University and M.com form Annamalai University. Currently, she has done her Management Training as per the norms of ICSI from a recognized firm "Mamta Binani and As View Full Profile

My Published Posts

Valuation for Tax Purpose & Companies Act, IND AS/ AS Accounting Purpose Master Direction – RBI (Filing of Supervisory Returns) Directions – 2024 AGM Compliances for Listed Company Related Party Transactions: Companies Act, 2013 and IND AS SEBI Notifies Second Amendment Regulations 2023 with Major Changes in LODRs View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Sponsored
Search Post by Date
November 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930