RBI’s Financials Presentation & Disclosures Directions apply to Central/State Co-op Banks

Circular no. RBI/2022-23/181 DOR.ACC.REC.No.103/21.04.018/2022-23, dated 20.02.2023

Earlier, the RBI (Financial Statements-Presentation and Disclosures) Directions, 2021 were applicable to Commercial Banks and Primary Urban Co-operative Banks (UCBs). These harmonizes the regulatory instructions on presentation and disclosure in financial statements across the banking sector.

Now, in consultation with the National Bank for Agriculture and Rural Development (NABARD), the RBI has decided to make this Master Direction also applicable to the State and Central Cooperative Banks (also referred to as ‘District Central Co-operative Banks’).

Further, the Master Direction shall apply to State and Central Cooperative Banks (together referred to as ‘Rural Co-operative Banks’ or RCBs) mutatis mutandis, unless explicitly specified otherwise, from the financial year ending March 31, 2023. Also, certain disclosure requirements specified in Annex III-A shall be applicable to RCBs, from the financial year ending March 31, 2024.

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