What changed
Previously, banks had to submit a quarterly statement on housing finance disbursements in a specified format to RBI's Department of Banking Supervision. RBI has now reviewed and decided to discontinue this reporting requirement, effective from the quarter ended June 30, 2007 onwards.
What it means for you
Banks are relieved of a recurring compliance burden related to housing finance data submission. This reduces administrative overhead and allows focus on core lending operations. However, banks must still maintain internal records as per other regulatory requirements.
What you must do
- Stop preparing and submitting the quarterly housing finance disbursement statement to RBI from the quarter ended June 30, 2007.
- Update internal compliance checklists to remove this reporting obligation.
- Retain any historical data for record-keeping as per standard retention policies.
Who it affects
All scheduled commercial banks, Compliance departments handling regulatory reporting, Housing finance teams
Which specific report has been discontinued?
The quarterly statement on housing finance disbursements, which was required under paragraph 7.2 of the Master Circular DBOD.No.DIR.(Hsg)BC.02/08.12.01/2007-08 dated July 2, 2007, has been discontinued.
From which quarter is the discontinuation effective?
The discontinuation is effective from the quarter ended June 30, 2007, and all subsequent quarters.
Do we need to submit any alternative report for housing finance?
No, the circular only states that the specific quarterly statement is discontinued. No alternative reporting requirement has been introduced in this notification.