Current · Source: Reserve Bank of India · RBI/2013-2014/422 · issued 31 Dec 2013 · ~1 min read
Quick answerRBI mandates SC/RCs to file quarterly statements SCRC 1 and SCRC 2 online from Q1 2014, replacing postal submissions. Deadline remains 15 days post-quarter. Option to file Q4 2013 either way.
The rule, in the simplest words
SC/RCs (companies that buy bad loans and try to recover money) must now file their quarterly reports (SCRC 1 and SCRC 2) online instead of sending them by post.
The deadline to file these reports is still 15 days after the quarter ends (e.g., for January-March, file by April 15).
For the quarter ending December 2013, you can choose to file online or by post. From the quarter ending March 31, 2014, you must file online only.
To file online, use the RBI's COSMOS portal at https://cosmos.rbi.org.in.
How it plays out — a real example
Ravi, a compliance officer at a Reconstruction Company in Mumbai, used to mail SCRC 1 and SCRC 2 forms to RBI's office. Now, for the March 2014 quarter, he logs into the COSMOS portal, uploads the data, and clicks submit—all within 15 days after March 31. He feels relieved because there's no risk of postal delays, and he can track the submission instantly.
What changed
Previously, SC/RCs submitted SCRC 1 and SCRC 2 by post to RBI's Mumbai office. Now, from the quarter ending March 31, 2014, these returns must be filed online via the RBI's COSMOS portal. For the December 2013 quarter, companies can choose either online or postal submission.
What it means for you
This shift to online filing streamlines data collection for RBI and reduces manual handling for SC/RCs. Banks and lenders dealing with SC/RCs should expect faster regulatory reporting and easier compliance tracking. The 15-day deadline remains unchanged, so internal processes must align with the new digital channel.
What you must do
Ensure your SC/RC registers and tests access to the COSMOS portal at https://cosmos.rbi.org.in before March 31, 2014.
Submit the December 2013 quarter statements either online or by post, as per your preference.
From Q1 2014 onward, file SCRC 1 and SCRC 2 online within 15 days of quarter-end.
Update internal compliance calendars to reflect the online submission process.
Who it affects
All registered Securitisation Companies (SCs), All registered Reconstruction Companies (RCs), RBI's Department of Non-Banking Supervision
❓ Common questions
What are SCRC 1 and SCRC 2?
These are quarterly returns that SC/RCs must file with RBI under the SARFAESI Act. SCRC 1 and SCRC 2 capture financial and operational data.
What is the deadline for filing these statements?
The statements must be submitted within 15 days of the close of the quarter to which they pertain.
Can we still file by post for the December 2013 quarter?
Yes, for the quarter ending December 2013, you have the option to file either online or by post. From March 2014 onward, only online filing is allowed.
📜 Read the original circular — full text as issued by RBI
RBI/2013-2014/422
DNBS (PD) CC. No. 34/SCRC/26.03.001/2013-2014
December 31, 2013
All registered Securitisation Companies/ Reconstruction Companies
Submission of online Quarterly Statements 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 and subsequent Circular DNBS (PD) CC. No.5 / SCRC / 10.30.000/2008-2009 dated September 26, 2008 on the captioned subject.
2. In terms of the extant instructions, Securitisation Companies/Reconstruction Companies (SC/RCs) registered with the Bank are required to submit the quarterly statements SCRC 1 and SCRC 2 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.
3. In order to streamline the reporting system and to improve the present method of collecting data, it has been decided to facilitate filing of these statements on line and for this purpose; the Bank has hosted the combined format of the Returns viz., SCRC 1 and SCRC 2 on the Bank's website, viz, https://cosmos.rbi.org.in . Securitisation Companies/ Reconstruction Companies (SC/RCs) are advised that the above statements for the quarter ending March 31, 2014 and thereafter be filed online. The companies have the option to submit the statements for quarter ending December 2013 either on line or by post.
4. The above instructions are being issued by the Bank in exercise of the powers conferred under Section12 A of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
5. Please acknowledge receipt.
Yours faithfully,
( N.S. Vishwanathan )
Principal Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-2014/422 · issued 31 Dec 2013. The plain-English explanation above is BankPulse’s own independent summary.
Ensure your SC/RC registers and tests access to the COSMOS portal at https://cosmos.rbi.org.in before March 31, 2014.
📜 Compliance
Submit the December 2013 quarter statements either online or by post, as per your preference.
From Q1 2014 onward, file SCRC 1 and SCRC 2 online within 15 days of quarter-end.
Update internal compliance calendars to reflect the online submission process.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All registered Securitisation Companies (SCs), All registered Reconstruction Companies (RCs), RBI's Department of Non-Banking Supervision), your first concrete step on “Online Quarterly Statements for SC/RCs” is: “Ensure your SC/RC registers and tests access to the COSMOS portal at https://cosmos.rbi.org.in before March 31, 2014.” (RBI issued this 31 Dec 2013).
Circular: RBI/2013-2014/422 -- Online Quarterly Statements for SC/RCs
Issued: 31 Dec 2013
Action required: Ensure your SC/RC registers and tests access to the COSMOS portal at https://cosmos.rbi.org.in before March 31, 2014.
Action required: Submit the December 2013 quarter statements either online or by post, as per your preference.
Action required: From Q1 2014 onward, file SCRC 1 and SCRC 2 online within 15 days of quarter-end.
Action required: Update internal compliance calendars to reflect the online submission process.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
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 03 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=8660&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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