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Read MoreNon Banking Financial Companies (NBFC ) are playing a vital role in our economy nowadays. Non banking financial company provides loans , advances, leasing, hire purchases to the businesses.
Reserve bank of india has introduced several notifications, Circulars, Master Direction for regulating the NBFC.
All the companies holding the Certificate of registration of Non Banking Financial Companies (NBFC) must comply with the regulations as may be provided by the Reserve bank of india, failure of which may cause penal actions by RBI and may also lead to the Cancellation of License of the NBFC.
The following are the Mandatory return which are required to be filed by the different kinds of NBFC :
Return | Time limit | New Return Introduced | Explanation |
NBS -1 / DNBS – 01 |
Upto 15 April / 15 July / 15 Oct. / 15 Jan | DNBS – 01 - RBI has introduced the new XBRL return to be filed in place of form NBS 1. For FY 2019-20 both NBS 1 and DNBS – 01 XBRL needs to be filed. For FY 2020-21 and onwards only DNBS – 01 XBRL return is required to be filed. |
Return on Financial indicators by NBFC accepting or holding deposit to be filed within 15 days of closure of the quarter |
NBS 2 / DNBS – 03 |
Upto 15 April / 15 July / 15 Oct. / 15 Jan | DNBS – 03 - RBI has introduced the new XBRL return to be filed in place of form NBS 2 NBS 3and NBS 7. For FY 2019-20 both NBS 2 / 3 /7 DNBS – 03 XBRL needs to be filed.For FY 2020-21 and onwards only DNBS – 03 XBRL return is required to be filed. |
Return on Prudential norms to be filed by deposit taking NBFC within 15 days of closure of the quarter |
NBS 3 / DNBS – 03 |
Upto 15 April / 15 July / 15 Oct. / 15 Jan | Return on liquid assets to be filed by deposit taking NBFC within 15 days of closure of the quarter | |
NBS 7 / DNBS – 03 |
Upto 15 April / 15 July / 15 Oct. / 15 Jan | Return on Prudential norms to be filed by Non deposit taking systematically important NBFC to be filed within 15 days of closure of the quarter | |
ALM Return | Upto 30 April / 30 October | Every Deposit taking NBFC holding public deposit of more than Rs 20 Cr. Or Asset size of more than 100 Cr. Needs to fiule the ALM Return within one month of each half of financial year | |
NBS 8 / DNBS – 02 |
Upto 30 May every year | DNBS – 02 - RBI has introduced the new XBRL return to be filed in place of form NBS 8 and NBS 9. For FY 2019-20 both NBS 8 / 9 and DNBS – 02 XBRL needs to be filed.For FY 2020-21 and onwards only DNBS – 02 XBRL return is required to be filed. |
Every Non Deposit taking NBFC having asset size of INR 100 Cr. – 500 Cr. Is required to file this return every year within 60 days of closure of financial year |
NBS 9 / DNBS – 02 |
Upto 30 May every year | Every Non Deposit taking NBFC having asset size upto INR 100 Cr. Is required to file this return every year within 60 days of closure of financial year |
The following are the other compliances that needs to be fulfilled by NBFC:
We offer all kinds of Consultancy, Compliances and Registration Services in relation to Non Banking Financial Company ( NBFC ). We have empanelled various experts to provide the expert advisory, Registration and Compliances services for Non Banking Financial Company (NBFC).
Further, we are having a vast experience in obtaining Certificate of registration of NBFC in india.
The services we provide in Non Banking Financial Company ( NBFC ) Compliances are:
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How can we file the statutory return for Non Banking Financial Company ( NBFC )?
We can file the required statutory returns for Non Banking Financial Company ( NBFC ) online.
Do we need to submit the statutory auditor certificate online?
No, the statutory auditor certificate needs to be filed with the concerned regional office of the reserve bank of india physically.
What if the financial statements of the company are not finalised till the deadline of filing Annual return of NBFC?
In case the financial statements are not finalised till the deadline for filing Annual return of NBFC i.e. 30th May, then the company can file the Annual return on the basis of Provisional financial statement of the company.
Further, the company also needs to file the audited financial statement of the Company.
Is there any fees for filing Returns and forms with RBI?
No, there is no fees for filing any return or form with the reserve bank of india.
What are the consequences of Non Compliances or delay in compliances by NBFC ?
In Case the Non Banking Company Does not comply with the regulations or make any delay in completing the compliances, then the Reserve bank of india can take penal actions including cancellation of Certificate of Registration of the Non Banking Financial Company ( NBFC )
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