RBI prescribes additional disclosure be made in financial statements by the NBFCs under SBR
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- Last Updated on 21 April, 2022
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Circular No. RBI/2022-23/26 DOR.ACC.REC.No.20/21.04.018/2022-23, Dated: 19.04.2022
RBI has specified that NBFCs are required to make certain additional disclosures in their financial statements in accordance with the SBR framework.
These disclosures are in addition to and not in substitution of the disclosure requirements specified under other laws, regulations, or accounting and financial reporting standards. These disclosures will help in a better understanding of the financial position and performance of an NBFC.
This Circular is applicable to all NBFCs whereas certain disclosure requirements will be applicable to specific NBFC layers only as mentioned. It may be noted that disclosure requirements applicable to lower layers of NBFCs will be applicable to NBFCs in higher layers. These guidelines shall be effective for annual financial statements for the year ending Mar 31, 2023, and onwards.
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