RBI's own words: “subsequent Circular DNBS (PD) CC. No.5 / SCRC / 10.30.000/2008-2009 dated September 26, 2008” — RBI/2013-2014/422
Source: Reserve Bank of India · RBI/2008-2009/197 · issued 26 Sep 2008 · ~2 min read
Quick answerRBI has revised the SCRC 1 and SCRC 2 quarterly statement formats for Securitisation Companies and Reconstruction Companies. The first revised statement is due for the quarter ending December 31, 2008, and must be submitted within 15 days of quarter close to RBI's Central Office in Mumbai.
The rule, in the simplest words
SCs/RCs (companies that buy bad loans and try to recover money) must use new forms called SCRC 1 and SCRC 2 to report every three months.
The first report using the new forms is due for the quarter ending December 31, 2008.
Send the report within 15 days after the quarter ends to RBI's office in Mumbai.
The new forms ask for more details about loans bought, how they are resolved, and security receipts (pieces of paper that show ownership of the loan pool).
How it plays out — a real example
A branch operations officer in Indore, Priya, works for a Reconstruction Company. She updates her team's reporting system to match the new SCRC 1 format, making sure to list every asset acquired and its resolution status. She then submits the first revised quarterly report for the quarter ending December 31, 2008, to RBI's Mumbai office within 15 days, so her company stays compliant.
What changed
RBI revised the formats of quarterly statements SCRC 1 and SCRC 2 based on experience gained from earlier submissions. The first statement in the new format is required for the quarter ending December 31, 2008, replacing the previous format used since April 2007.
What it means for you
Securitisation and Reconstruction Companies must update their internal reporting systems to capture the revised data fields in SCRC 1 and SCRC 2. The new formats likely require more granular details on asset acquisition, resolution, and security receipts, which may impact compliance timelines and data quality. Banks dealing with these entities should ensure their counterparties adhere to the revised reporting to avoid regulatory gaps.
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 align with the revised SCRC 1 and SCRC 2 formats.
Ensure the first revised quarterly statement is submitted for the quarter ending December 31, 2008, within 15 days of quarter close.
Verify that all data fields, including those on asset acquisition, resolution, and security receipts, are accurately captured.
Coordinate with the Department of Non-Banking Supervision, Central Office, Mumbai for submission.
Who it affects
All registered Securitisation Companies (SCs), All registered Reconstruction Companies (RCs), Banks and FIs that sell financial assets to SCs/RCs, RBI's Department of Non-Banking Supervision
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
When is the first revised quarterly statement due?
The first revised statement in the new format is due for the quarter ending December 31, 2008, and must be submitted within 15 days of the close of that quarter.
Where should the revised statements be submitted?
The statements should be submitted to the Department of Non-Banking Supervision, Central Office, Reserve Bank of India, 2nd floor, 'B' Wing, World Trade Centre, Centre I, Cuffe Parade, Colaba, Mumbai 400005.
What is the legal basis for this circular?
The instructions are issued under Section 12A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
RBI’s words: “subsequent Circular DNBS (PD) CC. No.5 / SCRC / 10.30.000/2008-2009 dated September 26, 2008”
📜 Read the original circular — full text as issued by RBI
RBI/2008-2009/197
DNBS (PD) CC. No. 12 / SCRC / 10.30.000/ 2008-2009
September 26, 2008
All registered Securitisation Companies/Reconstruction Companies
Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act
Please refer to our Circular DNBS (PD) CC. No. 5 / SCRC / 10.30.000/ 2006-2007 dated April 25, 2007 on the captioned subject.
2. Based upon the experience gained, the Bank has revised the formats of quarterly statements SCRC 1 and SCRC 2 to be submitted by Securitisation Companies/Reconstruction Companies registered with the Bank. As earlier, the statements should be submitted within 15 days of the close of the quarter to which it pertains, to the Department of Non-Banking Supervision, Central Office, Reserve Bank of India, 2nd floor, "B" Wing, World Trade Centre, Centre I, Cuffe Parade, Colaba, Mumbai 400005. The first such statement in revised format should be forwarded for the quarter ending December 31, 2008.
3. The above instructions are being issued by the Bank in exercise of the powers conferred under Section 12 A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
4. Please acknowledge receipt.
Yours faithfully,
(P.Krishnamurthy)
Chief General Manager-in-Charge
SCRC 1
Quarterly Statement on Assets acquired, securitized and reconstructed
Statement for the quarter ended March/June/September/December* 20 _
Name of the SC/RC:
Date of grant of Certificate of Registration:
Date of commencement of business:
Part- A
(Amount Rs. in lakh)
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-2009/197 · issued 26 Sep 2008. The plain-English explanation above is BankPulse’s own independent summary.
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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=4504&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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