NBFC stands for Non-Banking Finance Company. These NBFCs are further divided into several categories. Among these categories is a category ND-NSI. It stands for Non deposit taking, Non-Systematically Important NBFC.
These are the NBFCs which have total assets less than Rs.500 crore. These entities have less compliances as well as regulations from RBI. The criteria applicable to these NBFCs for asset ageing and categorisation are rather simple. ND-NSI need not maintain certain ratios and are having other relaxations also
XBRL returns applicable to ND-NSI NBFC
| Where Asset Size is less than Rs.100 crores | ||
| Name of Return Form | Particulars of Return | Details |
| DNBS 02 | Important Financial Parameters | NBFC should file the return annually within 60 days. |
| DNBS 10 | Certificate from Statutory Auditor | Statutory Auditor should file this return annually after accounts are finalised. The return should be filed within 1 month and not later than 31st December. |
| DNBS 13 | Overseas Investment Details | NBFC has to file this return quarterly within 15 days. |
| Where Asset Size is Between Rs.100 crore- Rs.500 crore | ||
| Name of Return Form | Particulars of Return | Details |
| DNBS 02 | Important Financial Parameters | NBFC should file the return annually within 60 days. |
| DNBS 10 | Certificate from Statutory Auditor | Statutory Auditor should file this return annually after accounts are finalised. The return should be filed within 1 month and not later than 31st December. |
| DNBS 13 | Overseas Investment Details | NBFC has to file this return quarterly within 15 days. |
| DNBS 04A | Short Term Dynamic Liquidity(STDL) | NBFC has to file this return quarterly within 15 days |
| DNBS 04B | Structural Liquidity and Interest Rate Sensitivity | NBFC has to file this return monthly within 10 days |
Benefits
- It provides comprehensive information about each and every part of data.
- There is consistency in terms of data. Therefore, it is easy to validate and compare the data.
- The data is rationalised and there is rare chance of duplication in data.
- XBRL is a uniform reporting system and helps RBI to do the analysis in a better way.
FAQs
What is XBRL?
XBRL (eXtensible Business Reporting Language) is a global standard for exchanging business information. It allows for the electronic communication of business and financial data, making it easier to compile, share, and analyze financial statements and regulatory filings.
Are ND-NSI NBFCs required to file XBRL returns?
Yes, ND-NSI NBFCs are required to file XBRL returns as mandated by the Reserve Bank of India (RBI). The requirement aims to improve the accuracy and efficiency of data submission and analysis.