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Brief Overview of XBRL Returns Applicability to the Non Deposit taking – Non Systematically Important Category of Non Banking Financial Companies (NBFCs) & other Important Provisions thereof

XBRL stands for eXtensible Business Reporting Language. It is a language for the electronic communication of business and financial data which is revolutionising the business reporting around the world. Within Reserve Bank of India, XBRL has been viewed as a natural evolution of the existing Online Returns Filing System (ORFS). As aware, the online parallel filing process for rationalized returns of Non Deposit taking – Non Systematically Important (ND-NSI) Category of NBFCs in the XBRL system has been started from February, 2020 onwards.

Thus, The XBRL Returns applicable to the Non Banking Financial Company- Non Deposit taking and Non Systematically Important Company (NBFCs-ND-NSI) as per asset size is as follows-

Asset Size – Below ₹100 Crores

Return Name Return Overview Frequency Who will submit Timeline for submission of Return Whether started already
DNBS 02 Important Financial Parameters Annual NBFC 60 Days Yes
DNBS 10 Statutory Auditor Certificate Annual Statutory Auditor One month from the date of finalisation of Balance Sheet.  Not later than 31st December Yes
DNBS 13 Overseas Investment Detail Quarterly NBFC 15 Days Yes

Asset Size – Between ₹100 – 500 Crores

Return Name Return Overview Frequency Who will submit Timeline for submission of Return Whether started already
DNBS 02 Important Financial Parameters Annual NBFC 60 Days Yes
DNBS 04A Short Term Dynamic Liquidity (STDL) Quarterly NBFC 15 Days Yes
DNBS 04B Structural Liquidity & Interest Rate Sensitivity Monthly NBFC 10 Days Yes
DNBS 10 Statutory Auditor Certificate Annual Statutory Auditor One month from the date of finalisation of Balance Sheet.  Not later than 31st December Yes
DNBS 13 Overseas Investment Detail Quarterly NBFC 15 Days Yes

IMPORTANT POINTS BULLETIN

  • All the ND-NSI category of NBFCs has to file the applicable returns in both the systems i.e. COSMOS & XBRL portal pertaining to the period ended March 31, 2020.
  • Further, this has been decided by RBI to discontinue the online filing of returns by ND-NSI category of NBFCs (having asset size <₹500 crore) from March, 2021 onwards in the COSMOS system and operate only XBRL system as solo online return reporting system.
  • NBFCs are advised to get them registered on the XBRL platform and submit the contact and other details of Key management personnel (KMPs) of the company in the format as prescribed by the RBI. NBFCs are required to communicate with RBI (Department of Non Banking Supervision) through their official Email-ids for Super User ID Creation and in order to facilitate an access (login credentials) to the new platform. After receipt of Login credentials, open https://xbrl.rbi.org.in to access XBRL Portal.
  • NBFCs are required to create the Statutory Auditor ID in the XBRL System after receiving an access to the XBRL portal. After creation of Statutory Auditor user ID, An automated email would be sent to Statutory Auditor by XBRL system in order for the authentication of submission of the DNBS 10 return.
  • NBFCs are required to file DNBS 13 return even in case of NIL Overseas Investment.

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Disclaimer: The entire contents of this document have been prepared based on the relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information.

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6 Comments

  1. minu says:

    Hi disha,

    i just wanted to know is the process of preparing and filing xbrl financial statements of nbfc with RBI is the same as that of Mca filing?
    or some different process is there to prepare the nbfc xbrl?

    1. CS Disha Rani says:

      Hi, Both are different Regulatory Authorities and follows their own procedure and formats. But yes filings on both the portal differs.

    1. CS Disha Rani says:

      Hi, The Information as provided in the Article was shared by RBI through its official mail ids and reference of any circular was not intimated for the same.

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