SCs/RCs: New Owned Funds & Audited Balance Sheet Norms
No longer current — withdrawn, no replacement on file yet
RBI's own words: “A Master Circular giving gist of circulars/notifications issued up to June 30, 2008” — RBI/2008-2009/13
Source: Reserve Bank of India · RBI/2007-2008/258 · issued 05 Mar 2008 · ~1 min read
Quick answerRBI mandates SCs/RCs to report Owned Funds in quarterly SCRC1 returns and submit audited balance sheets with Directors/Auditors Report within one month of AGM, effective from March 31, 2008.
The rule, in the simplest words
Securitisation Companies (SCs) and Reconstruction Companies (RCs) must report their Owned Funds [the money they have] in their quarterly returns
SCs and RCs must submit audited [checked by accountants] balance sheets with reports from Directors [company leaders] and Auditors [accountant reviewers] within one month of their Annual General Meeting [a yearly meeting where company results are discussed]
This helps the Reserve Bank of India (RBI) get timely and accurate financial information from SCs and RCs
Banks dealing with SCs and RCs will get more reliable information to assess risks and follow regulations
How it plays out — a real example
A compliance officer in Mumbai will update their company's reporting templates to include Owned Funds in quarterly returns and ensure audited balance sheets are filed on time, so their bank can better assess risks when dealing with Securitisation Companies. This change will help the officer's team coordinate with other departments more efficiently. By following these new rules, the compliance officer will be able to provide more accurate information to the RBI and maintain good relationships with other financial institutions.
What changed
RBI partially modified its earlier circular of April 25, 2007, requiring all registered SCs/RCs to now include Owned Funds as item 1 in their quarterly SCRC1 statements. Additionally, they must submit audited balance sheets along with Directors and Auditors reports within one month of the AGM where results are adopted, starting with the March 31, 2008 balance sheet.
What it means for you
This tightens reporting discipline for securitisation and reconstruction companies, ensuring RBI gets timely, audited financials and clearer capital position data. Banks dealing with SCs/RCs can expect more reliable owned fund disclosures, aiding risk assessment and regulatory compliance.
Historical instruction — do not use for current compliance. This is what was required at the time; it no longer reflects current RBI requirements. If no replacement rule is linked above, that only means none is recorded on our register yet — it does not prove no later applicable rule exists. Confirm on the official RBI source below.
What banks were required to do at the time
Update internal reporting templates to include Owned Funds as item 1 in quarterly SCRC1 returns.
Ensure audited balance sheets with Directors and Auditors reports are filed within one month of AGM, starting from FY2008.
Coordinate with compliance teams to align submission timelines with AGM schedules.
Review existing SC/RC counterparty data for adherence to these new disclosure norms.
Who it affects
All registered Securitisation Companies (SCs), All registered Reconstruction Companies (RCs), Banks and financial institutions dealing with SCs/RCs
❓ Common questions
Regulatory timeline
Stated effective dateeffective from March 31, 2008
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
What is the deadline for submitting the audited balance sheet under this circular?
SCs/RCs must submit the audited balance sheet along with Directors and Auditors reports within one month from the date of the Annual General Body Meeting where the audited results are adopted, starting with the balance sheet as on March 31, 2008.
Does this circular replace the earlier April 25, 2007 circular?
No, it partially modifies the earlier circular. The key change is that Owned Funds must now be reported as item 1 in the quarterly SCRC1 statement, in addition to the existing requirements.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
RBI’s words: “A Master Circular giving gist of circulars/notifications issued up to June 30, 2008”
📜 Read the original circular — full text as issued by RBI
RBI/2007-2008/258
DNBS
(PD) CC. No. 8 / SCRC / 10.30.000/ 2007-2008
March 5, 2008
All registered Securitisation Companies/Reconstruction Companies
Regulation
of SCs/RCs-submission of returns and audited balance sheet by SCs/RCs
In
partial modification of our earlier circular CC
No. 5/SCRc/10.30.000/2006-07 dated April 25, 2007 , all the SCs/RCs registered
with the Bank are advised to furnish the position of Owned Funds in Quarterly
Statements SCRC1 as item no.1.
2. All SCs/RCs may also
furnish a copy of audited balance sheets along with the Directors Report/Auditors
Report every year within one month from the date of Annual General Body Meeting,
in which the audited results are adopted, starting with the balance sheet as on
March 31,2008.
Yours faithfully,
(P.Krishnamurthy)
Chief General Manager-in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2007-2008/258 · issued 05 Mar 2008. The plain-English explanation above is BankPulse’s own independent summary.
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 05 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=4071&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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