RBI’s Revised Schedule of Submission of Online Returns for NBFCs
The RBI has issued Notification dt. 26 Nov. 2015 after review of the periodicity & requirements of online returns submission by NBFCs through COSMOS, as below:
a) Change in periodicity of NDSI-500cr and ALM-1 returns from monthly to quarterly
b) Discontinuation of NBS- 6 return as the same information is received through NBS-1 return.
RBI has further pointed out that some of the NBFCs are not submitting correct branch information return as per their guidelines. Therefore, to maintain uniformity and avoid misunderstanding, RBI has decided that the concerned NBFCs should report the stock data of branches as at end of every quarter rather than providing incremental number of branches during the quarter.