What changed
Previously, reporting on NRLM credit progress followed paragraph 13.5 of the June 27, 2013 circular. Now, banks must send a state-wise consolidated report to RBI at quarterly intervals instead of the earlier frequency. The report must be emailed within 15 days from quarter-end using the enclosed format.
What it means for you
Banks need to adjust their internal reporting cycles to compile and submit NRLM data quarterly. This reduces reporting burden compared to more frequent submissions but requires timely consolidation across states. Lenders must ensure accurate state-wise data to avoid compliance gaps.
What you must do
- Set up quarterly internal deadlines to compile state-wise NRLM progress data.
- Email the consolidated report in the prescribed format to RBI within 15 days of each quarter-end.
- Update your reporting SOPs to reflect the change from earlier frequency to quarterly submission.
- Coordinate with state-level branches or units to ensure timely data aggregation.
Who it affects
All scheduled commercial banks offering NRLM credit, Bank branches handling NRLM loans, Compliance and reporting teams
What is the deadline for submitting the NRLM report?
The report must be emailed to RBI within 15 days from the end of each quarter.
Does this circular change the reporting format?
The circular mentions an enclosed format for the report, but the format itself is not detailed in the source text. Banks should use the format provided with the circular.
Which earlier circular is being modified?
This modifies paragraph 13.5 of the circular RPCD.GSSD. No.81/09.01.03/2012–13 dated June 27, 2013.