The Reserve Bank of India ( RBI ) has notified the due dates for the submission of returns by the Non-Banking Financial Companies (NBFCs) as mandated by the provisions of the Reserve Bank of India Act, 1934.
“The returns should be compiled on the basis of the figures available in the books of accounts of such NBFCs and filed with the RBI on-line (using the COSMOS software package) by an authorized official of the NBFC, who shall be specifically authorized in this regard by the Board of Directors of such NBFC concerned. The name of the authorized official may be informed to us,” a notification issued by the Bank last week said.
The first set of returns should be filed with effect from the: (i) last Friday of December 2017 for the weekly return; (ii) quarter ended – December 31, 2017, for the quarterly returns; (iii) half-year ending March 31, 2018, for the half-yearly returns; and (iv) year ending March 31, 2018, for the annual returns. All weekly, quarterly returns up to December 31, 2017, shall be submitted by April 15, 2018. Thereafter, these returns shall be submitted within the timeline stipulated in the Master Direction on returns to be submitted by the Non-Banking Financial Companies.
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