RBI Extends Reporting Timelines for Banks Amid Pandemic
RBI extended, by up to 30 days, the timelines for submission of various regulatory returns to address disruption due to the COVID-19 pandemic. The extension includes regulatory returns on large exposures, exposures to a qualifying central counterparty, and certain reports under Basel III capital regulations. The extension will be applicable to regulatory returns required to be submitted up to June 30, 2020.
All regulatory returns required to be submitted by all scheduled commercial banks, payments banks and local area banks, India financial institutions, and co-operative banks to the Department of Regulation can be submitted with a delay of up to 30 days from the due date. The entities that are in a position to submit the returns earlier may continue to do so. It may be noted that no extension in timeline is permitted for submission of statutory returns—that is, returns prescribed under the Banking Regulation Act, 1949, RBI Act, 1934 or any other Act (for instance, returns related to cash reserve ratio/statutory liquidity ratio). The annex to the RBI notification further details these deadline extensions.
Keywords: Asia Pacific, India, Banking, COVID-19, Reporting, Large Exposures, Basel, Regulatory Capital, CCP Exposures, RBI
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