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Non-Banking Financial companies (NBFC) are registered under the 2013 Companies Act and are engaged in the business of collecting deposits, loans and advances, buying stocks, bonds, shares, government-issued debentures, and securities. The NBFCs operate its business under the regulations of the financial operations of the Reserve Bank of India. NBFC are required to get a license from the Reserve Bank of India to operate its business.
NBFCS BASED ON LIABILITIES
Deposit Accepting NBFCs;
Non-Deposit Accepting NBFCs;
Systematically Important (NBFC-ND-SI);
Other Non-Deposit Holding Companies;
NBFCS BASED ON ACTIVITIES
Infrastructure Finance Company (IFC)
Investment and Credit Company (ICC)
Systemically Important Core Investment Company (CIC)
NBFC- Non-Operative Financial Holding Company (NOFHC)
Mortgage Guarantee Companies
NBFC-Factors
NBFC- Microfinance Companies (MFIs)
Infrastructure Debt Fund Non-Banking Financial Company (IDF-NBFC)
NON-DEPOSIT TAKING NBFC’S HAVING ASSET SIZE BETWEEN RS. 50 CRORES TO RS. -100 CRORES:
QUARTERLY RETURN: Non-Deposit taking NBFC’s with asset size of Rs.50 - 100 Crore needs to file Quarterly Return with RBI.
NON-DEPOSIT TAKING NBFCS HAVING ASSETS OF RS.100 TO RS 500 CRORES:
NBS-8: Non-Deposit taking NBFC’s With Asset Size from Rs.100 Cr. To 500 Crore have to file Annual Return in form NBS-8 with RBI department.
NBFC-ND-SI HAVING ASSET SIZE BELOW RS 100CR:
NBS-9: NBFC--ND--SI with Asset Size below Rs.100 Crore has to file Annual Return in form NBS-8 with RBI department.
NON-DEPOSIT TAKING NBFCS COMPLIANCES WITH RBI:
| FORM | COMPLIANCE | DUE |
|---|---|---|
| Monthly Return | Monthly Return with asset size of Rs.100 CR. & above | RBI |
| NBS_ALM1 | Statement of Short term dynamic liquidity (Within 10 days of the end of every month) | RBI |
| NBS-7 | Quarterly Statement of Capital Funds, Risk-Weighted Assets and risk assets Ratio etc. Unaudited Monthly return/audited Unaudited Monthly return NBS-7 | Unaudited Monthly (30th June) Audited monthly return (Upon completion) |
| SA & CEO certificate for NBS-7 | Certifying NBS-7 (Statutory Auditors certificate on Income & Assets) | 30th June |
| NBS_ALM3 | Interest rate sensitivity | statement shall be filed with the Bank |
| ALM Return | Asset liability mismatches and interest rate exposure | RBI |
NBFC MONTHLY COMPLIANCES BY ALL NON-DEPOSIT TAKING NBFCS SI:
MONTHLY RETURN: NBFC--ND-SI with asset size of Rs.100 CR. & above has to file monthly return with RBI department.
NBS_ALM-1: Statement of Short term dynamic liquidity has to be filed within 10 days of the closer month by all non-deposit taking NBFCS having asset size above Rs. 100 crores or public deposits of Rs. 20 crores and above with RBI.
NBS6: NBFCS have to file their Monthly Return stating Exposure to Capital Market with RBI.
QUARTERLY COMPLIANCES BY NBFC ND SI WITH RBI:
| FORMS | COMPLIANCES |
|---|---|
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| NBS 1 | Quarterly Return on Material Financial Parameters of Deposit Taking NBFCs |
| NBS 2 | Quarterly Statement of Capital Funds, Risk Assets/Exposures and risk assets Ratio. |
| NBS 2: CA & CEO Cert. | Certifying NBS 2 |
| NBS 3 | Quarterly Return on Statutory Liquid Assets |
| NBS 3A | Quarterly Return on Statutory Liquid Assets |
| Quarterly Return I | Return of investments |
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| NBS-7 | Quarterly Statement of Capital Funds, Risk-Weighted Assets and risk assets Ratio etc. |
| NBS-7: SA & CEO Cert. | Certifying NBS -7 |
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| Quarterly Return | Quarterly Return by NBFC--ND with asset size of Rs.50 - 100 Cr. |
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| SCRC | Quarterly statement of assets acquired/ securitized/ reconstructed |
HALF YEARLY COMPLIANCES OF NBFC ND SI
NBS_ALM-2: All deposit-taking NBFC’s having asset size Rs. 100 crores or more or public deposits of Rs. 20 crores and above have to file form NBS_ALM-2 which contain details of any mismatches in Assets, liabilities and interest rate exposure (Within 20 days of the end of half year) to the regional office of the Department in whose jurisdiction NBFC is registered.
NBS_ALM-3: All deposit-taking NBFCs have to file form NBS_ALM-3 for Interest rate sensitivity and have to submit the statement with bank.
YEARLY COMPLIANCES OF NBFC
ALM RETURN: ALM Return should be submitted by all non-deposit taking NBFCS for Asset liability mismatches and interest rate exposure with RBI
FORM -NBS 1A: Form -NBS 1A should be submitted by all residuary non-banking companies for filing Annual Return on Deposits (Filed annually after March 31 and latest by September 30)to the Regional Office of Department of Non--Banking Supervision, RBI where registered office of the company is situated.
NBS-8: NBS¬8 should be submitted by NBFCS having the asset of Rs 100 to Rs 500 Cr for filing Annual Return on Non-Deposit taking NBFC with Asset Size from Rs.100 Cr. to 500 Cr with RBI.
NBS-9: NBS-9 should be submitted by NBFCS having asset size below Rs 100 Cr for filing Annual Return on NBFC-ND-SI with Asset Size below Rs.100 Cr with RBI.
NBS-4: NBS-4 should be submitted by all non-banking financial companies accepting/holding public deposits and MNBCS except residuary non-banking companies for filing Repayment of Deposits only in respect of rejected or canceled companies with the Department of Non--Banking Supervision, RBI.
CA CERTIFICATE FORM NBS -4: All non-banking financial companies accepting/holding public deposits and MNBCS except residuary non-banking companies should submit Certifying NBS-4 with RBI.
COMPLIANCES UNDER COMPANIES ACT, 2013 FOR NBFC
FORM MGT-7: Every NBFCS companies registered under companies act, 2013 have to file their Annual Return (Within 60 days of conclusion AGM) in Form MGT-7 with registrar of companies.
Form AOC-4: All NBFCS companies registered under companies act, 2013 have to file their annual financials i.e. Balance Sheet and Profit & Loss statement (Within 30 days of conclusion of AGM) with registrar of companies.
FORM DIR-12: All NBFCS companies registered under companies act, 2013 have to file Form DIR-12 with registrar of companies (Within 30 days of the date of that change) if there is any addition or resignation of director or any other change in Directors.
COMPLIANCES WITH NSE FOR LISTED NBFC-ND
| S.NO. | COMPLIANCES | DUE DATE |
|---|---|---|
| 1. | Filing of Listing Agreement of Issued Series | Within 30 days of Issuance |
| 2. | Publishing of Unaudited Half-yearly Result in two newspaper | Within 30 days from the end of Half-year |
| 3. | File Half-yearly Audited Result with NSE via mail | Within 30 days from the end of Half-year |
| 4. | File Quarterly result (Balance Sheet and P&L) via mail | Within 90 days from the end of Quarter |
| 5. |
Filing Information Memorandum/Shelf Offer Document+ below letters: 1. Letter from CRISIL for filing UIM 2. Letter from AXIS Bank (Debenture Trustee) for filing UIM 3. Certified true copy of the resolution authorizing the filing of UIM 4. Certified true copy of the blanket resolution covering Debt issuances for filing UIM 5. Certify compliance as per Chapter VI of SEBI (DIP) Guidelines 2000 & Sch-II of Companies Act,1956 6. Get In-principle approval letter from NSE post-filing |
At the end of Financial Year |
COMPLIANCES FOR ALL RESIDUARY NBFC WITH RBI
| FORM | COMPLIANCE | DEPARTMENT |
|---|---|---|
| NBS 3A | Quarterly Return on Statutory Liquid Assets | RBI |
| Quarterly Return I | Return of investments | RBI |
| Form - NBS 1A | Annual Return on Deposits (Filed annually after closure of financial year and latest by September 30) | Regional Office of Department of Non-- Banking Supervision, RBI where registered office of the company is situated |
| Form Schedule “A” | General Information of the Company (filed annually as early as possible latest by the 30th September) | Regional Office of the Department of Supervision, Financial Companies Wing |