RBI streamlines process to standardise filing of supervisory returns by banks, NBFCs

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..... RBI streamlines process to standardise filing of supervisory returns by banks, NBFCs
By: - Vivek Jalan
Other Topics
Dated:- 30-3-2024

As per FEMA Norms, Supervisory returns refer to all periodic/ ad-hoc data submitted to RBI in formats prescribed from time to time. Commercial banks have to file 36 returns, including on "Asset Liability and Off-Balance Sheet Exposures", "asset quali .....

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..... ty", "liquidity return", "Interest Rate Sensitivity", "Large Credits", "Red Flagged Account/Fraud Borrowers", "Defaulted Borrowers", "Ownership and Control", "Connected Exposure", "financial conglomerates", and "Stressed MSME Sub-ordinate Debt Scheme". Select all India financial institutions have to file 10 returns; urban co-operative banks (20 returns) and NBFCs (12). The RBI on February 27, 2024 .....

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..... has issued a 'master direction for filing of supervisory returns' for banks, non-banking finance companies, and select all-India financial institutions, consolidating all the existing instructions on submission of data in order to provide clarity and reduce compliance burden. The RBI excluded regional rural banks and housing finance companies from the aforesaid norms. PSBs must submit half-yearl .....

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..... y and quarterly reviews of accounts within 21 days from the date of receipt of the statutory central auditor (SCA) report. Earlier, banks could submit the reviews whenever it was provided by the SCA. The RBI also mandated lenders to submit interest rate sensitivity returns within 15 days for all months, as against previously mandated quarterly returns within 21 days. This Circular creates a singl .....

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..... e document for ensuring compliance related to submission of all supervisory data. A summary of all changes made are also included in the Master Direction for ease of reference. SEs should ensure that resources and IT infrastructure is adequate to meet a broad range of on-demand, ad hoc reporting requests, including requests during stress / crises situation and to meet supervisory queries.
Sch .....

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..... olarly articles for knowledge sharing by authors, experts, professionals .....

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