RESERVE BANK OF INDIA (RBI) vide RBI/2019 -20/228 and DOR.BP.BC.No.68 /21.04.018/ 2019-20 dated 29th April, 2020 has extended the timelines for Submission of regulatory returns. In order to mitigate the difficulties in timely submission of various regulatory returns, in view of disruptions on account of COVID-19 pandemic.
The circular was issued to:
- All Scheduled Commercial Banks
- (including RRBs and Small Finance Banks),
- Payments Banks and Local Area Banks,
- All India Financial Institutions,
- All Co-operative Banks,
Kindly note:all regulatory returns required to be submitted by the above entities tothe Department of Regulation can be submitted with a delay of upto 30 days from thedue date.
No Extension for–
It may be noted that no extension in timeline is permitted for submission of statutory returns i.e. returns prescribed under the Banking Regulation Act, 1949, RBI Act, 1934 or any other Act (for instance, returns related to CRR/SLR).
List of regulatory returns which can be submitted with a delay of a maximum of 30 days from the due date–
|Name of the return||Regulated entities to which the return is applicable||Frequency of the return||Current timeline|
|Payment of dividend||SCBs (excluding RRBs)||As and when basis||Within a fortnight after declaration of dividend|
|Report on issue of Subordinated Debt, raising of Upper Tier II Capital, Perpetual Debts and Equity Capital (Qualified Institutional Placements -QIP, Preferential issue to Promoters, GDR issue) together with copy of document||All Commercial Banks (Excluding Local Area Banks and RRBs)||As and when basis||Within one week from date of issue|
|Form I||SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs||Monthly||Within 30 days|
|Form II||SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs||Monthly||Within 25 days|
|Monthly Statement on Gold Monetisation Scheme, 2015||SCBs (excluding RRBs)||Monthly||Within 30 days|
|Statement of Gold and Silver imported during the month||SCBs (excluding RRBs)||Monthly||Within 30 days|
|Return on exposures to QCCP||SCBs (excluding RRBs)||Monthly||Within 30 days|
|Monthly Return on Aggregate Resources Raised||All India Financial Institutions||Monthly||Within 10 days|
|Return on Large Exposure||SCBs (excluding RRBs)||Quarterly||Within 30 days|
|Ind AS proforma||SCBs (excluding RRBs)||Quarterly||Within 60 days|
|Format for interim reporting to Reserve Bank of India – BC Outlets||RRBs||Quarterly||Within 20 days|
|PSU Investment statement||StCBs, DCCBs||Quarterly||Within 30 days|
|Form III||SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs||Half-yearly|
(ended on 31 March and 30 September)
|Within 30 days|
|Statement of Merchant Acquiring Business of RRBs||RRBs||Half Yearly (ended on 31 March and 30 September)||Within 10 days|
|Proforma Ind AS Financial Statement for AIFIs||All India Financial Institutions||Half-yearly|
(ended on 31 March and 30 September)
|Within 60 days|
|Statement of shareholding (Restrictions on holding shares)||StCBs, DCCBs||Yearly||Within 30 days|
|Non-banking Asset||StCBs, DCCBs||Yearly||Within 30 days|
|Table 34 (Distribution of offices population /group wise)||StCBs, DCCBs||Yearly||Within 30 days|
The author of the above article is CS Lalit Rajput, Partner at Xcede Consultech LLP.
Email id: [email protected]
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