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RBI Extends Due Date of regulatory returns
- Submission of regulatory returns - Extension of timelines
RESERVE BANK OF INDIA 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 to the Department of Regulation can be submitted with a delay of upto 30 days from the due 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 daysfrom the due date
Sr. No | Name of the return | Reference of Act or circular under which the return is prescribed | Regulated entities to which the return is applicable | Frequency of the return | Current timeline |
1 | Payment of dividend | SCBs (excluding RRBs) | As and when basis | Within a fortnight after declaration of dividend | |
2 | 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 | Reporting Requirements under Basel III Capital Regulations- Review dated June 23, 2016 | All Commercial Banks (Excluding Local Area Banks and RRBs) | As and when basis | Within one week from date of issue |
3 | Form I | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs | Monthly | Within 30 days | |
4 | Form II | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs | Monthly | Within 25 days | |
5 | Monthly Statement on Gold Monetisation Scheme, 2015 | SCBs (excluding RRBs) | Monthly | Within 30 days | |
6 | Statement of Gold and Silver imported during the month | IBS.1758/23.67.001/2002-03 dated April 23, 2003 | SCBs (excluding RRBs) | Monthly | Within 30 days |
7 | Return on exposures to QCCP | DBOD.No.BP.BC.82/21.06.217/2013-14 dated January 7, 2014 'Banks’ Exposure to Central Counterparties (CCPs) - Interim Arrangements' | SCBs (excluding RRBs) | Monthly | Within 30 days |
8 | Monthly Return on Aggregate Resources Raised | Master Circular on Resource Raising Norms for Financial Institutions DBR.No.FID.FIC.1/01.02.00/2015-16 dated July 01, 2015 | All India Financial Institutions | Monthly | Within 10 days |
9 | Return on Large Exposure | DBR.No.BP.BC.43/21.01.003/2018-19 dated June 3, 2019 - Large Exposure Framework (non-centrally cleared derivative exposures) | SCBs (excluding RRBs) | Quarterly | Within 30 days |
10 | Ind AS proforma | Banks are advised by e-mails at end of every quarter. | SCBs (excluding RRBs) | Quarterly | Within 60 days |
11 | Format for interim reporting to Reserve Bank of India - BC Outlets | DBR.RRB.BL.BC.No.40/31.01.002/2018-19 dated May 31, 2019 on Rationalization of Branch Authorization Policy- Revision of Guidelines | RRBs | Quarterly | Within 20 days |
12 | PSU Investment statement | StCBs, DCCBs | Quarterly | Within 30 days | |
13 | Form III | SCBs (including RRBs), Local Area Banks, UCBs, StCBs, DCCBs, SFBs and PBs | Half-yearly | Within 30 days | |
14 | Statement of Merchant Acquiring Business of RRBs | DOR.RRB.BL.BC.No. 31/31.01.001/2019 - 20 dated February 06, 2020 on Guidelines on Merchant Acquiring Business – Regional Rural Banks | RRBs | Half Yearly (ended on 31 March and 30 September) | Within 10 days |
15 | Proforma Ind AS Financial Statement for AIFIs | All India Financial Institutions | Half-yearly | Within 60 days | |
16 | Statement of shareholding (Restrictions on holding shares) | StCBs, DCCBs | Yearly | Within 30 days | |
17 | Non-banking Asset | StCBs, DCCBs | Yearly | Within 30 days | |
18 | Table 34 (Distribution of offices population/group wise) | StCBs, DCCBs | Yearly | Within 30 days |
About Author:
CS Lalit Rajput
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