The Reserve Bank of India has reiterated that non-banking non-financial companies need not submit the return of deposits to the Reserve Bank. There is, however, no change in the instructions in relation to non-banking financial companies.

It may be recalled that in terms of the provisions contained in the Companies Act, 1956, the non-banking non-financial companies are required to submit the return on deposits mobilised by them to the Registrar of Companies. Copies of these returns were also being received in the Reserve Bank for statistical purposes. The Reserve Bank of India discontinued the system of receiving copies of return on deposits from the non-banking non-financial companies from March 31, 1999.