What changed
RBI has temporarily replaced the online-only quarterly return submission for NBFCs (asset size ₹50–100 crore) with a dual-mode process: hard copy and Excel soft copy via email. This applies until the online system is advised. The first return was due within the first week of December 2008; subsequent returns must follow the new procedure for the present.
What it means for you
This change requires NBFCs to submit returns in hard copy and Excel format until further notice.
What you must do
- Advise NBFC clients in the ₹50–100 crore asset bracket to submit returns within one month of quarter-end to the regional RBI office.
- Ensure compliance with the previous circular's instructions.
Who it affects
Non-deposit taking NBFCs with asset size ₹50 crore to less than ₹100 crore, RBI's Department of Non-Banking Supervision regional offices
What is the new submission deadline for the quarterly return?
The return must be submitted within one month from the close of each quarter, as hard copy and Excel soft copy via email to the regional RBI office.
Does this circular apply to all NBFCs?
No, it applies only to non-deposit taking NBFCs with asset size of ₹50 crore and above but less than ₹100 crore.
When will the online submission system be available?
The hard copy and Excel process will continue until the online procedure is advised.