'NBFCs may also report frauds perpetrated in their subsidiaries and affiliates/joint ventures. Such frauds should, however, not be included in the report on outstanding frauds and the quarterly progress reports referred to in paragraph 4 below'.
2) Paragraph No.3.2.2 of Master Circular DNBS.PD.CC.No.121 /03.10.42/2008-09 has been revised as under- 'In respect of frauds in borrowal accounts, additional information as prescribed under Part B of FMR-1 should also be furnished'.
2. These instructions are being issued in exercise of powers vested in the Bank under Section 45K and 45L of the RBI Act, 1934.
3. A copy of the updated guidelines is enclosed for meticulous compliance.
Yours faithfully
(P. Krishnamurthy) Chief General Manager In-Charge
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