What changed
The format of the annual return for Non-SSI sick/weak industrial units has been revised, replacing the earlier version from June 30, 2004. A new software package for data input has been developed, and banks must now submit data on a floppy disk instead of paper. As a one-time measure, banks must also furnish data in the revised format for the periods ending March 31, 2004, and March 31, 2005.
What it means for you
Banks need to update their reporting processes to use the new software and floppy-based submission for Non-SSI sick/weak units, which will be processed by RBI to generate reports. The one-time requirement for historical data (2004 and 2005) adds an extra compliance burden, requiring retrieval and entry of past records. This ensures standardized and machine-readable data for RBI's monitoring of industrial stress.
What you must do
- Download the new software and guidelines from the RBI website link provided in the circular.
- Install the software and train relevant staff on data entry for the revised format.
- Submit the annual return in the revised format for the period ending March 31, 2006, within one month.
- As a one-time measure, also furnish data for March 31, 2004, and March 31, 2005, in the revised format.
- Ensure data is submitted on a floppy disk as per the new software requirements.
Who it affects
All Scheduled Commercial Banks (excluding RRBs), Bank branches handling industrial loan reporting, Compliance and data management teams
What is the deadline for submitting the revised return for March 2006?
The data must be submitted within one month from the end of the period, i.e., by April 30, 2006.
Do we need to submit data for earlier years?
Yes, as a one-time measure, banks must also furnish data in the revised format for the periods ending March 31, 2004, and March 31, 2005.
How should the data be submitted?
Data must be submitted on a floppy disk using the new software provided by RBI, which can be downloaded from the RBI website.