The Reserve Bank of India has advised all non-banking financial companies holding/accepting public deposits and miscellaneous non-banking companies (chit funds) to ensure submission of the annual return within the stipulated date, i.e., as early as possible after March 31, 1998 and latest by September 30, 1998. The blank form of the annual return can be collected from the respective regional office of the Reserve Bank of India (Department of Non-Banking Supervision).

Every non-banking financial company, irrespective of its net owned fund position, holding/accepting public deposits and all miscellaneous non-banking companies (chit funds) are required to submit an annual return to the Reserve Bank of India in terms of paragraph 8(3) of the Non-Banking Financial Companies, Acceptance of Public Deposits (Reserve Bank) Directions, 1998 issued under Notification No. DFC.118/DG (SPT)-98 dated January 31, 1998. The annual return has to be submitted as early as possible after March 31 in the form specified in the First Schedule to the Directions issued on January 31, 1998. Accordingly, even non-banking financial company holding/accepting public deposits and every miscellaneous non-banking company is required to submit its annual return as on March 31, 1998 as early as possible after March 31, 1998 and latest by September 30, 1998.

(Alpana Killawala)
General Manager

Press Release : 1998-99/53