Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025 (Updated as on July 01, 2026)

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RBI/DOR/2025-26/359 DOR.ACC.REC.No.278/21.04.018/2025-26 November 28, 2025 Previous Versions Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025 (Updated as on July 01, 2026) Table of Contents Chapter-I Preliminary A. Short title and commencement B. Applicability Chapter-II Balance sheet and Profit and Loss Account A. Preparation of the balance sheet and profit and loss account B. Accounting standards to be followed C. Guidance on specific issues with respect to certain Accounting Standards D. Other instructions Chapter-III Disclosure in Financial Statements – Notes to Accounts A. General B. Presentation C. Disclosure requirements Chapter-IV Consolidated Financial Statements Chapter-V Repeal and other provisions A. Repeal and saving B. Application of other laws not barred C. Interpretations Annex I In exercise of the powers conferred under sections 45L of the Reserve Bank of India Act, 1934 and Section 3 read with section 31A and section 6 of the Factoring Regulation Act, 2011, Sections 30A, 32 of the National Housing Bank Act, 1987 and all other provisions / laws enabling the Reserve Bank of India (‘RBI’), RBI being satisfied that it is necessary and expedient in the public interest so to do, hereby, issues the Directions hereinafter specified. Chapter-I Preliminary A. Short title and commencement 1. These Directions shall be called the Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, 2025. 2. These Directions shall come into force with immediate effect. B. Applicability 3. These Directions shall be applicable to following Non-Banking Financial Companies, (hereinafter collectively referred to as ‘NBFCs’ and individually as an NBFC), for all layers, unless specified otherwise: (i) Deposit taking NBFC (NBFC-D) registered with the RBI under the provisions of the RBI Act, 1934; (ii) NBFC-Investment and Credit Company (NBFC-ICC) registered with the RBI under the provisions of the RBI Act, 1934; (iii) NBFC-Factor registered with the RBI under the provisions of the Factoring Regulation Act, 2011; (iv) NBFC-Microfinance Institution (NBFC-MFI) registered with the RBI under the provisions of the RBI Act, 1934; (v) NBFC- Infrastructure Finance Company (NBFC-IFC) registered with the RBI under the provisions of the RBI Act, 1934; (vi) Infrastructure Debt Fund (IDF) - NBFC registered with the RBI under the provisions of the RBI Act, 1934; (vii) Housing Finance Company (HFC) registered with the RBI under the provisions of the NHB Act, 1987; (viii) Core Investment Company (CIC) registered with the RBI as NBFCs under the provisions of the RBI Act, 1934 4. These Directions except provisions contained in Paragraph 13 to 15 and Paragraph 20 shall be applicable to Standalone Primary Dealer (SPD) registered with the RBI as NBFC under the provisions of the RBI Act, 1934; 5. These Directions except provisions contained in Paragraph 20 shall be applicable to Mortgage Guarantee Company (MGC) registered with RBI under the scheme of Registration of Mortgage Guarantee Companies, as per layer-wise applicability; 6. These Directions except provisions contained in Paragraph 13 to 15 and Paragraph 20 shall be applicable to NBFC-Peer to Peer Lending Platforms (NBFC-P2P) registered with the RBI under the provisions of the RBI Act, 1934, subject to layer-wise applicability. 7. These Directions except provisions contained in Paragraph 13 to 15 and Paragraph 20 shall be applicable to NBFC-Account Aggregator (NBFC-AA) registered with the RBI under the provisions of the RBI Act, 1934, subject to layer-wise applicability. 8. These Directions are not applicable for the following: (i) Non-Operative Financial Holding Company (NOFHC) registered with the RBI as NBFC under the provisions of the RBI Act, 1934; (ii) 1 [NBFC holding Certificate of Registration as ‘Type I NBFC’]; (iii) ‘NBFCs in Base layer having customer interface but not availing public funds’. Note: The applicability under these Directions is in line with the regulatory structure for NBFCs as set out in Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Directions, 2025 . Chapter-II Balance sheet and Profit and Loss Account A. Preparation of the balance sheet and profit and loss account 9. An NBFC shall prepare its balance sheet and profit and loss account, as prescribed under the Companies Act, 2013, as on March 31 every year. Whenever an NBFC intends to extend the date of its balance sheet, as per provisions of the Companies Act, 2013, it shall take prior approval of the Reserve Bank before approaching the Registrar of Companies for this purpose. Explanation - Even in a case where RBI and the Registrar of Companies grant extension of time, the NBFC shall furnish to RBI a proforma balance sheet (unaudited) as on March 31 of the year and the statutory returns due on the said date. Every NBFC shall finalise its balance sheet within a period of 3 months from the date to which it pertains. B. Accounting standards to be followed 10. An NBFC covered by Rule 4 of the Companies (Indian Accounting Standards) Rules, 2015, (‘Ind AS’) shall prepare its financial statements in accordance with Ind AS notified by the Government of India and shall comply with the regulatory guidance specified in paragraph 11 and paragraph 12 of this Master Direction. Other NBFCs shall comply with the requirements of Accounting Standards notified under the Companies (Accounting Standards) Rules, 2021, as amended from time to time, in so far as they are not inconsistent with any of Directions / Guidelines issued by RBI. C. Guidance on specific issues with respect to certain Accounting Standards 11. An NBFC that is required to comply with Ind AS shall adhere to instructions given in the following paragraphs. These instructions focus on the need to ensure consistency in the application of the accounting standards in specific areas, including asset classification and provisioning. These instructions and guidelines relate to specific prudential aspects of Ind AS implementation by NBFCs and are not meant to provide a comprehensive commentary on the accounting standards or comprehensive technical interpretation of the standards, nor intended to cover all possible situations. Accordingly, with respect to matters not dealt in these Directions, an NBFC is required to refer to the notified accounting standards, application guidance, educational material and other clarifications issued by the Institute of Chartered Accountants of India (ICAI). 12. The responsibility of preparing and ensuring fair presentation of the financial statements of an NBFC vests primarily with its Board of Directors. The Reserve Bank expects a high-quality implementation of Ind AS which will require detailed analysis, application of judgment and detailed documentation to support judgments. 1) Governance Framework (i) In view of the criticality of the nature of the business model in determining the classification of financial assets and restrictions on subsequent reclassification, an NBFC is advised to put in place Board approved policies that clearly articulate and document its business models and portfolios. The NBFC shall also articulate the objectives for managing each portfolio. (ii) An NBFC shall frame its policy for sales out of amortised cost business model portfolios and disclose the same in its notes to financial statements. (iii) The Reserve Bank expects the Board of Directors to approve sound methodologies for computation of Expected Credit Losses (ECL) that address policies, procedures and controls for assessing and measuring credit risk on all lending exposures, commensurate with the size, complexity and risk profile specific to the NBFC. The parameters and assumptions considered as well as their sensitivity to the ECL output should be documented. An NBFC shall not make changes in the parameters, assumptions and other aspects of its ECL model for the purposes of profit smoothening. The rationale and justification for any change in the ECL model shall be documented and approved by the Board. Similarly, the rationale and basis of any adjustments to the model output (i.e., a management overlay) shall be clearly documented and approved by the Audit Committee of the Board (ACB). Note – An NBFC / ARC may draw reference to ‘Guidance on Credit Risk and Accounting for Expected Credit Losses’ issued by Basel Committee on Banking Supervision (BCBS) in December 2015, which is structured around 11 principles out of which first eight principles deal with supervisory guidance and inter-alia cover Board / Senior Management’s responsibilities, adoption of sound methodologies for credit risk measurement, disclosure requirements etc. (iv) Ind AS 109 does not explicitly define default but requires entities to define default in a manner consistent with that used for internal credit risk management. It is recommended that the definition of default adopted for accounting purposes is guided by the definition used for regulatory purposes. The rationale for classification of accounts that are past due beyond 90 days but not treated as impaired shall be clearly documented and approved by the ACB. Further, the number of such accounts and the total amount outstanding and the overdue amounts shall be disclosed in the notes to the financial statements. Note - Paragraph B5.5.37 of Ind AS 109 states that “…an entity shall apply a default definition that is consistent with the definition used for internal credit risk management purposes for the relevant financial instrument and consider qualitative indicators (for example, financial covenants) when appropriate. However, there is a rebuttable presumption that default does not occur later than when a financial asset is 90 days past due unless an entity has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. The definition of default used for these purposes shall be applied consistently to all financial instruments unless information becomes available that demonstrates that another default definition is more appropriate for a particular financial instrument.” (v) Regardless of the way in which the NBFC assesses significant increase in credit risk, there is a rebuttable presumption under Ind AS 109 that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due. Ind AS 109 also permits that an NBFC can rebut this presumption if it has reasonable and supportable information that demonstrates that the credit risk has not increased significantly since initial recognition even though the contractual payments are more than 30 days past due. An NBFC should educate its customers on the need to make payments in a timely manner. However, in limited circumstances, where an NBFC rebuts the presumption, it shall be done only with clear documentation of the justification for doing so. All such cases shall be placed before the ACB. The NBFC shall not defer the recognition of significant increase in credit risk for any exposure that is overdue beyond 60 days. 2) Prudential Floor for Expected Credit Loss (ECL) (i) An NBFC shall hold impairment allowances as required by Ind AS. In parallel, the NBFC shall also maintain the asset classification and compute provisions as per extant prudential norms on Income Recognition, Asset Classification and Provisioning (IRACP) including borrower / beneficiary wise classification, provisioning for standard as well as restructured assets, NPA ageing, etc. A comparison (as per the template provided in paragraph 21 (15) below) between provisions required under IRACP and impairment allowances made under Ind AS 109 shall be disclosed by the NBFC in the notes to its financial statements to provide a benchmark to it Boards, supervisors of the Reserve Bank and other stakeholders, on the adequacy of provisioning for credit losses. (ii) Where impairment allowance under Ind AS 109 is lower than the provisioning required under IRACP (including standard asset provisioning), the NBFC shall appropriate the difference from its net profit or loss after tax to a separate ‘Impairment Reserve’. The balance in the ‘Impairment Reserve’ shall not be reckoned for regulatory capital. Further, no withdrawals shall be permitted from this reserve without prior permission from the Department of Supervision of the Reserve Bank. (iii) The requirement for ‘Impairment Reserve’ may be reviewed, going forward. D. Other instructions 13. An NBFC shall separately disclose in its balance sheet the provisions made as per the Reserve Bank’s guidelines without netting them from the income or against the value of assets. 14. Provisions, created by an NBFC, shall be distinctly indicated under separate heads of account as under: (i) provisions for bad and doubtful debts; and (ii) provisions for depreciation in investments 15. Provisions shall not be appropriated from the general provisions and loss reserves held, if any, by the NBFC. Provisions for each year shall be debited to the profit and loss account. The excess of provisions, if any, held under the heads general provisions and loss reserves may be written back without making adjustment against them. Chapter-III Disclosure in Financial Statements – Notes to Accounts A. General 16. An NBFC shall make disclosures in its financial statements in accordance with the guidelines in these Directions, applicable accounting standards, laws and regulations. 17. The formats for disclosures specified in this Master Direction are common templates for all categories of NBFCs. An individual NBFC may omit those line items / disclosures which are not applicable / not permitted or with no exposure / no transaction both in the current year and previous year. The disclosures specified in this Master Direction are in addition to and not in substitution of the disclosure requirements specified under other laws, regulations, or accounting and financial reporting standards. More comprehensive disclosures than the minimum required are encouraged, especially if such disclosures significantly aid in the understanding of the financial position and performance. 18. It may be noted that mere mention of an activity, transaction or item in the disclosure template does not imply that it is permitted, and an NBFC shall refer to the extant statutory and regulatory requirements while determining the permissibility or otherwise of an activity or transaction. 19. An NBFC shall disclose comparative information in respect of the previous period for all amounts reported in the current period’s financial statements. Further, the NBFC shall include comparative information for narrative and descriptive information if it is relevant to understanding the current period’s financial statements. B. Presentation B.1 Schedule to the balance sheet 20. An NBFC shall append to its balance sheet as prescribed under the Companies Act, 2013, the particulars in the schedule as per format given in Annex I . C. Disclosure requirements C.1 Disclosure requirements for all NBFCs 21. An NBFC shall make following disclosures in ‘Notes to Accounts’ to the financial statements. (1) Loans against gold and silver collateral i) Details of loans extended against eligible gold and silver collateral Particulars Loan outstanding Average ticket size (₹ crore) Average LTV ratio Gross NPA (%) ₹ crore As % of Total Loans 1. Opening balance of the FY [(a)+(b)] (a) Consumption loans of which bullet repayment loans (b) Income generating loans 2. New loans sanctioned and disbursed during the FY [(c)+(d)] NA (c) Consumption loans NA of which bullet repayment loans (d) Income generating loans NA 3. Renewals sanctioned and disbursed during the FY NA 4. Top-up loans sanctioned and disbursed during the FY NA 5. Loans repaid during the FY [(e)+(f)] NA NA (e) Consumption loans NA NA of which bullet repayment loans NA NA (f) Income generating loans NA NA 6. Non-Performing Loans recovered during the FY [(g) + (h)] NA NA (g) Consumption loans NA NA of which bullet repayment loans NA NA (h) Income generating loans NA NA 7. Loans written off during the FY [(i) + (j)] NA NA (i) Consumption loans NA NA of which bullet repayment loans NA NA (j) Income generating loans NA NA 8. Closing balance at the end of FY [(k) + (l)] (k) Consumption loans of which bullet repayment loans (l) Income generating loans Note: (i) The NBFC shall be guided by the Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 , as amended from time to time. (ii) Information may be disclosed separately for loans against gold collateral and loans against silver collateral (iii) Average LTV ratio is calculated as ratio of sum of LTVs of loans at the time of sanction to total number of such loans. ii) Details of gold and silver collateral and auctions Sr. No. Particulars (a) Unclaimed gold or silver collateral at the end of the financial year (in grams) (b) Number of loan accounts in which auctions were conducted (c) Total outstanding in loan accounts mentioned in (b) (d) Gold or silver collateral acquired during the FY due to default of loans (in grams) (e) Gold or silver collateral auctioned during the FY (in grams) (f) Recovery made through auctions during the FY (in ₹ crore) (g) Recovery percentage: (h) as % of value of gold or silver collateral (i) as % of outstanding loan Note: (i) Weight and value of collateral to be calculated in accordance with Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 . (ii) Unclaimed gold or silver collateral means as defined under Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 . (iii) An NBFC shall also provide details of whether any of its sister concerns participated in the auction. (iv) An NBFC shall disclose in its balance sheet the percentage of loans granted against the collateral of gold jewellery to its total assets. (2) Disclosure related to project finance An NBFC shall make appropriate disclosures related to project finance as below: Sl. No Item Description Number of accounts Total outstanding (in ₹ crore) 1 Projects under implementation accounts at the beginning of the quarter. 2 Projects under implementation accounts sanctioned during the quarter. 3 Projects under implementation accounts where DCCO has been achieved during the quarter 4 Projects under implementation accounts at the end of the quarter. (1+2-3) 5 Out of ‘4’ – accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked. 5.1 Out of ‘5’ – accounts in respect of which Resolution plan has been implemented. 5.2 Out of ‘5’ – accounts in respect of which Resolution plan is under implementation. 5.3 Out of ‘5’ – accounts in respect of which Resolution plan has failed. 6 Out of ‘5’, accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be, has been invoked due to change in scope and size of the project. 7 Out of ‘5’, account in respect of which cost overrun associated with extension in original / extended DCCO, as the case may be, was funded 7.1 Out of ‘7’, accounts where SBCF was sanctioned during financial closure and renewed continuously 7.2 Out of ‘7’, accounts where SBCF was not pre-sanctioned or renewed continuously 8 Out of ‘4’ – accounts in respect of which resolution process not involving extension in original / extended DCCO, as the case may be, has been invoked. 8.1 Out of ‘8’ – accounts in respect of which Resolution plan has been implemented. 8.2 Out of ‘8’ – accounts in respect of which Resolution plan is under implementation. 8.3 Out of ‘8’ – accounts in respect of which Resolution plan has failed. Note: This is a quarterly disclosure beginning from October 1, 2025. NBFC shall be guided by the Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025 , as amended from time to time. (3) Non-Fund Based (NFB) Credit Facilities: An NBFC shall disclose the details of NFB credit facilities in the format given below. As at 31st March 20XX As at 31st March 20XX Previous Year Previous Year Secured* Portion Unsecured Portion Secured* Portion Unsecured Portion I Outstanding Guarantees (₹ crore) i) In India ii) Outside India II Acceptances, Endorsements and other Obligations (₹ crore) III Other NFB Credit facilities (₹ crore) * Secured portion is as defined under the Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 . Note: As regards NFB credit limits, the bank shall be guided by the Reserve Bank of India (Non-Banking Financial Companies – Credit Facilities) Directions, 2025 , as amended from time to time. These Directions shall come into force from April 1, 2026, or from any earlier date as decided by an NBFC as per its internal policy (“effective date”). Extension of any new NFB facility and renewal of an existing NFB facility after the effective date, shall be governed in terms of these Directions. All existing NFB facilities extended/ renewed till the effective date shall be governed by the existing instructions as applicable to the respective bank. (4) Disclosures on Co-Lending Arrangements (a) In addition to the applicable disclosure requirements under extant regulations, an NBFC shall also prominently disclose on their website, a list of all active CLA partners. (b) an NBFC shall also make appropriate disclosures in their financial statements, under ‘Notes to Accounts’, relating to necessary details of CLAs on an aggregate basis. The details may inter alia include quantum of CLAs, weighted average rate of interest, fees charged / paid, broad sectors in which CLA was made, performance of loans under CLA, details related to default loss guarantee, if any, etc. The disclosure shall be done on quarterly/annual basis. Note: As regards CLA, the NBFC shall be guided by the Reserve Bank of India (Non-Banking Financial Companies – Transfer and Distribution of Credit Risk) Directions, 2025 , as amended from time to time. These Directions shall come into force from January 1, 2026, or from any earlier date as decided by an NBFC as per its internal policy (“effective date”). Any new CLA entered into after the effective date shall be in compliance with these Directions. (5) Disclosures relating to securitisation The originators should indicate the outstanding amount of securitised assets as per books of the Special Purpose Entities (SPEs) and total amount of exposures retained by the originator as on the date of balance sheet to comply with the Minimum Retention Requirement (MRR). These figures shall be based on the information duly certified by the SPE’s auditors obtained by the originator from the SPE. These disclosures should be made in the format given in the table below. (Number / Amounts in ₹ crore) Sl. No. Particulars Mar 31 (Current Year) Mar 31 (Previous Year) 1. No of SPEs holding assets for securitisation transactions originated by the originator (only the SPVs relating to outstanding securitisation exposures to be reported here) 2. Total amount of securitised assets as per books of the SPEs 3. Total amount of exposures retained by the originator to comply with MRR as on the date of balance sheet a) Off-balance sheet exposures • First loss • Others b) On-balance sheet exposures • First loss • Others 4. Amount of exposures to securitisation transactions other than MRR a) Off-balance sheet exposures i) Exposure to own securitisations • First loss • Others ii) Exposure to third party securitisations • First loss • Others b) On-balance sheet exposures i) Exposure to own securitisations • First loss • Others ii) Exposure to third party securitisations • First loss • Others 5. Sale consideration received for the securitised assets and gain / loss on sale on account of securitisation 6. Form and quantum (outstanding value) of services provided by way of, liquidity support, post-securitisation asset servicing, etc. 7. Performance of facility provided. Please provide separately for each facility viz. Credit enhancement, liquidity support, servicing agent etc. Mention percent in bracket as of total value of facility provided. (a) Amount paid (b) Repayment received (c) Outstanding amount 8. Average default rate of portfolios observed in the past. Please provide breakup separately for each asset class i.e. RMBS, Vehicle Loans etc (may mention average default rate of previous 5 years) 9. Amount and number of additional / top up loan given on same underlying asset. Please provide breakup separately for each asset class i.e. RMBS, Vehicle Loans, etc. 10. Investor complaints (a) Directly / Indirectly received and; (b) Complaints outstanding Note – An NBFC shall provide table separately for ‘Simple, Transparent and Comparable’ (STC) and non-STC transactions. (6) Disclosure of transfer of loan exposure A lender shall make appropriate disclosures related to the total amount of loans not in default / stressed loans transferred and acquired to / from other entities as prescribed below, on a quarterly basis: (i) In respect of loans not in default that are transferred or acquired, the disclosures should cover, inter alia, aspects such as weighted average maturity, weighted average holding period, retention of beneficial economic interest, coverage of tangible security coverage, and rating-wise distribution of rated loans. Specifically, a transferor should disclose all instances where it has agreed to replace loans transferred to transferee(s) or pay damages arising out of any representation or warranty. The disclosures should also provide break-up of loans transferred / acquired through assignment / novation and loan participation. (ii) In the case of stressed loans transferred or acquired, the following disclosures should be made: Details of stressed loans transferred during the year (to be made separately for loans classified as NPA and SMA) (all amounts in ₹ crore) To Asset Reconstruction Companies (ARCs) To permitted transferees To other transferees (please specify) No: of accounts Aggregate principal outstanding of loans transferred Weighted average residual tenor of the loans transferred Net book value of loans transferred (at the time of transfer) Aggregate consideration Additional consideration realized in respect of accounts transferred in earlier years Details of loans acquired during the year (all amounts in ₹ crore) From Scheduled Commercial Banks, Regional Rural Bank, Co-operative Banks, All India Financial Institutions, Small Finance Banks and Non-Banking Finance Companies including Housing Finance Companies From ARCs Aggregate principal outstanding of loans acquired Aggregate consideration paid Weighted average residual tenor of loans acquired The transferor(s) should also make appropriate disclosures with regard to the quantum of excess provisions reversed to the profit and loss account on account of sale of stressed loans. Also, the lenders should disclose the distribution of the SRs held by them across the various categories of Recovery Ratings assigned to such SRs by the credit rating agencies. Note: While making disclosures in audited annual financial statements, an NBFC should invariably provide the figures for both the current and previous year to facilitate comparison. (7) Disclosure on restructuring of advances (i) For non-deposit taking NBFCs with asset size less than ₹500 crore An NBFC shall disclose information relating to number and amount of advances restructured, and the amount of diminution in the fair value of the restructured advances as per the format given below. The information shall be required for advances restructured under CDR Mechanism, SME Debt Restructuring Mechanism and other categories separately. The NBFC shall disclose the total amount outstanding in all the accounts / facilities of borrowers whose accounts have been restructured along with the restructured part or facility. This means even if only one of the facilities / accounts of a borrower has been restructured, the NBFC shall also disclose the entire outstanding amount pertaining to all the facilities / accounts of that particular borrower. The disclosure format prescribed below, inter-alia, includes the following: i) Details of accounts restructured on a cumulative basis excluding the standard restructured accounts which cease to attract higher provision and risk weight (if applicable); ii) Provisions made on restructured accounts under various categories; and iii) Details of movement of restructured accounts. This implies that once the higher provisions on restructured advances (classified as standard either ab initio or on upgradation from NPA category) revert to the normal level on account of satisfactory performance during the prescribed period, such advances shall no longer be required to be disclosed by an NBFC as restructured accounts in the ’Notes on Accounts’ in its Annual Balance Sheets. However, the provision for diminution in the fair value of restructured accounts on such restructured accounts shall continue to be maintained by the NBFC as per the existing instructions. Disclosure of restructured accounts Sl. No. Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Mechanism Others Total Asset Classification Stan dard Sub-Stan dard Dou btful Loss Total Stan dard Sub-Stan dard Dou btful Loss Total Stan dard Sub-Stan dard Dou btful Loss Total Stan dard Sub-Stan dard Dou btful Loss Total Details 1 Restructured Accounts as on April 1 of the FY (opening figures) * No. of borrowers Amount outstanding Provision thereon 2 Fresh restructuring during the year No. of borrowers Amount outstanding Provision thereon 3 Upgradations to restructured standard category during the FY No. of borrowers Amount outstanding Provision thereon 4 Restructured standard advances which cease to attract higher provisioning and / or additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY No. of borrowers Amount outstanding Provision thereon 5 Down gradation of restructured accounts during the FY No. of borrowers Amount outstanding Provision thereon 6 Write-offs of restructured accounts during the FY No. of borrowers Amount outstanding Provision thereon 7 Restructured Accounts as on March 31 of the FY (closing figures*) No. of borrowers Amount outstanding Provision thereon * Excluding the figures of Standard Restructured Advances which do not attract higher provisioning or risk weight (if applicable). (ii) Particulars of resolution plan and restructuring An NBFC covered by the ‘Prudential Framework for Resolution of Stressed Assets’ issued vide the Reserve Bank of India (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025 shall make appropriate disclosures in its financial statements relating to resolution plans implemented. As per the referenced circular, acquisition of shares due to conversion of debt to equity during a restructuring process shall be exempted from regulatory ceilings / restrictions on Capital Market Exposures, investment in Para-Banking activities and intra-group exposure. However, details of the same shall be disclosed by an NBFC in the ‘Notes to Accounts’ to Annual Financial Statements. (8) Exposure (i) Exposure to real estate sector (Amount in ₹ crore) Category Current Year Previous Year i) Direct exposure a) Residential Mortgages – Lending fully secured by mortgages on residential property that is or will be occupied by the borrower or that is rented. Exposure would also include non-fund based (NFB) limits. b) Commercial Real Estate – Lending secured by mortgages on commercial real estate (office buildings, retail space, multipurpose commercial premises, multifamily residential buildings, multi tenanted commercial premises, industrial or warehouse space, hotels, land acquisition, development and construction, etc.). Exposure would also include non-fund based (NFB) limits. c) Investments in Mortgage-Backed Securities (MBS) and other securitised exposures – i. Residential ii. Commercial Real Estate ii) Indirect Exposure Fund based and non-fund-based exposures on National Housing Bank and Housing Finance Companies. Total Exposure to Real Estate Sector (ii) Exposure to capital market (Amount in ₹ crore) Particulars Current Year Previous Year i) Direct investment in equity shares, convertible bonds, convertible debentures and units of equity oriented mutual funds the corpus of which is not exclusively invested in corporate debt ii) Advances against shares / bonds / debentures or other securities or on clean basis to individuals for investment in shares (including IPOs / ESOPs), convertible bonds, convertible debentures, and units of equity oriented mutual funds iii) Advances for any other purposes where shares or convertible bonds or convertible debentures or units of equity oriented mutual funds are taken as primary security iv) Advances for any other purposes to the extent secured by the collateral security of shares or convertible bonds or convertible debentures or units of equity oriented mutual funds i.e. where the primary security other than shares / convertible bonds / convertible debentures / units of equity oriented mutual funds does not fully cover the advances v) Secured and unsecured advances to stockbrokers and guarantees issued on behalf of stockbrokers and market makers vi) Loans sanctioned to corporates against the security of shares / bonds / debentures or other securities or on clean basis for meeting promoter’s contribution to the equity of new companies in anticipation of raising resources vii) Bridge loans to companies against expected equity flows / issues viii) Underwriting commitments taken up by the NBFC in respect of primary issue of shares or convertible bonds or convertible debentures or units of equity oriented mutual funds ix) Financing to stockbrokers for margin trading x) All exposures to Alternative Investment Funds: 1. Category I 2. Category II 3. Category III Total exposure to capital market Note – An NBFC may omit those line items which are not applicable / not permitted or have nil exposure both in current and previous year. Further, exposures against pledge of shares by promoters of a company shall be shown separately under the respective line items. (iii) Sectoral exposure Sectors Current Year Previous Year Total Exposure (₹ crore) Gross NPAs (₹ crore) Percentage of Gross NPAs to total exposure in that sector Total Exposure (₹ crore) Gross NPAs (₹ crore) Percentage of Gross NPAs to total exposure in that sector 1. Agriculture and Allied Activities 2. Industry i…. ii…. Others Total of Industry (i+ii+…+Others) 3. Services i… ii… Others Total of Services (i+ii+…+Others) 4. Personal Loans i… ii… Others Total of Personal Loans (i+ii+…+Others) 5. Others, if any (please specify) Note - i. Total exposure includes on balance sheet and off - balance sheet exposure. ii. The disclosures as above shall be based on the sector-wise and industry-wise bank credit (SIBC) return submitted by scheduled commercial banks to the Reserve Bank and published by Reserve Bank as ‘Sectoral Deployment of Bank Credit’. iii. In the disclosures as above, if within a sector, exposure to a specific sub-sector / industry is more than 10 per cent of Tier 1 Capital of an NBFC, the same shall be disclosed separately within that sector. Further, within a sector, if exposure to specific sub-sector / industry is less than 10 per cent of Tier 1 Capital, such exposures shall be clubbed and disclosed as “Others” within that sector. (iv) Intra-group exposures An NBFC shall make the following disclosures for the current year with comparatives for the previous year: i) Total amount of intra-group exposures ii) Total amount of top 20 intra-group exposures iii) Percentage of intra-group exposures to total exposure of the NBFC on borrowers/customers (v) Unhedged foreign currency exposure An NBFC shall disclose details of its unhedged foreign currency exposures. Further, it shall also disclose its policies to manage currency induced risk. (9) Related party disclosure (Amount in ₹ crore) RelatedParty Parent (as per ownership or control) Subsidiaries Associates / Joint ventures Key Management Personnel @ Relatives of Key Management Personnel @ Others* Total Items Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Borrowings # Deposits # Placement of deposits # Advances # Investments # Purchase of fixed/other assets Sale of fixed/other assets Interest paid Interest received Others* @ Disclosures for directors and relatives of directors should be made separately in separate columns from other KMPs and relatives of other KMPs. # The outstanding at the year end and the maximum during the year are to be disclosed. * Specify item if total for the item is more than 5 per cent of total related party transactions. Related parties would include trusts and other bodies in which the NBFC can directly or indirectly (through its related parties) exert control or significant influence. (i) Related party, in the context of the aforementioned disclosure, shall include all related parties as per the applicable accounting standards. Further, related party shall also include following related parties defined under Section 2(76) of the Companies Act, 2013. i) A director or his relative; ii) key managerial personnel or his relative; iii) a firm, in which a director, manager or his relative is a partner; iv) a private company in which a director or manager or his relative is a member or director; v) a public company in which a director or manager is a director and holds along with his relatives, more than two per cent. of its paid-up share capital; vi) any body corporate whose Board of Directors, managing director or manager is accustomed to act in accordance with the advice, directions or instructions of a director or manager; vii) any person on whose advice, directions or instructions a director or manager is accustomed to act: Provided that nothing in clauses (f) and (g) shall apply to the advice, directions or instructions given in a professional capacity; (ii) At a minimum, Key Management Personal (KMPs) shall include following key managerial personnel as per section 2(51) of the Companies Act, 2013. i) the Chief Executive Officer or the managing director or the manager ii) the company secretary iii) the whole-time director iv) the Chief Financial Officer v) such other officer, not more than one level below the Directors who is in whole-time employment, designated as key managerial personnel by the Board; and vi) such other officer as may be prescribed (iii) Relatives of KMPs at the minimum, shall include following relatives as defined under section 2(77) of the Companies Act, 2013 and Rule 4 of the Companies (Specification of definitions details) Rules, 2014. i) they are members of a Hindu Undivided Family; ii) they are husband and wife; or iii) one person is related to the other in such manner as may be prescribed; (iv) A person shall be deemed to be the relative of another, if he or she is related to another in the following manner, namely:- i) Father; Provided that the term “Father” includes step-father. ii) Mother: Provided that the term “Mother” includes the step-mother. iii) Son: Provided that the term “Son” includes the step-son. iv) Son’s wife. v) Daughter. vi) Daughter’s husband. vii) Brother: Provided that the term “Brother” includes the step-brother; viii) Sister: Provided that the term “Sister” includes the step-sister. 2 (9A) Exposures to Related Parties Details of exposures to related parties as defined in Reserve Bank of India (Non-Banking Financial Companies – Credit Risk Management) Directions, 2025 (Amount in ₹ crore) Sr. No. Particulars Previous Year Current Year A. Loans to Related Parties 1. Aggregate value of loans sanctioned to related parties during the year 2. Aggregate value of outstanding loans to related parties as on 31st March 3. Aggregate value of outstanding loans to related parties as a proportion of total credit exposure as on 31st March (in %) 4. Aggregate value of outstanding loans to related parties which are categorized as: (i) Special Mention Accounts as on 31st March (ii) Non-Performing Assets as on 31st March 5. Amount of provisions held in respect of loans to related parties as on 31st March B. Contracts and Arrangements involving Related Parties 6. Aggregate value of contracts and arrangements awarded to related parties during the year 7. Aggregate value of outstanding contracts and arrangements involving related parties as on 31st March ] (10) Disclosure of complaints (i) Summary information on complaints received by an NBFC from customers and from the Offices of Ombudsman Sr. No Particulars Current Year Previous Year Complaints received by the NBFC from its customers 1. Number of complaints pending at beginning of the year 2. Number of complaints received during the year 3. Number of complaints disposed during the year 3.1 Of which, number of complaints rejected by the NBFC 4. Number of complaints pending at the end of the year Maintainable complaints received by the NBFC from Office of Ombudsman 5.* Number of maintainable complaints received by the NBFC from Office of Ombudsman 5.1. Of 5, number of complaints resolved in favour of the NBFC by Office of Ombudsman 5.2 Of 5, number of complaints resolved through conciliation/mediation/advisories issued by Office of Ombudsman 5.3 Of 5, number of complaints resolved after passing of Awards by Office of Ombudsman against the NBFC 6.* Number of Awards unimplemented within the stipulated time (other than those appealed) Note: Maintainable complaints refer to complaints on the grounds specifically mentioned in Integrated Ombudsman Scheme, 2021 (previously the Ombudsman Scheme for Non-Banking Financial Companies, 2018) and covered within the ambit of the Scheme. * It shall only be applicable to NBFC which is included under the Reserve Bank – Integrated Ombudsman Scheme, 2021. (ii) Top five grounds of complaints received by the NBFC from customers Grounds of complaints, (i.e. complaints relating to) Number of complaints pending at the beginning of the year Number of complaints received during the year % increase/ decrease in the number of complaints received over the previous year Number of complaints pending at the end of the year Of 5, number of complaints pending beyond 30 days 1 2 3 4 5 6 Current Year Ground – 1 Ground – 2 Ground – 3 Ground – 4 Ground – 5 Others Total Previous Year Ground – 1 Ground – 2 Ground – 3 Ground – 4 Ground – 5 Others Total The list of grounds of complaints given below are indicative only. 1. Credit Cards 2. Difficulty in operation of accounts 3. Mis-selling 4. Recovery Agents/ Direct Sales Agents 5. Loans and advances 6. Levy of charges without prior notice/ excessive charges/ foreclosure charges 7. Non-observance of fair practices code 8. Staff behaviour 9. Facilities for customers visiting the office/ adherence to prescribed working hours, etc. 10. Others (11) Loans to directors, senior officers and relatives of directors (₹ crore) Current Year Previous Year Directors and their relatives Entities associated with directors and their relatives Senior Officers and their relatives (12) Currency futures Disclosures shall be made in the balance sheet relating to transactions undertaken in the currency futures market, in accordance with the guidelines issued by SEBI. (13) Liquidity The requirements stipulated in this sub-paragraph are applicable to non-deposit taking NBFCs with asset size of ₹100 crore and above, Core Investment Companies and all deposit taking NBFCs. An NBFC shall publicly disclose information as given below on a quarterly basis on the official website and in the annual financial statements as ‘Notes to Accounts’. (i) Funding Concentration based on significant counterparty (both deposits and borrowings) Sr No. Number of Significant Counterparties Amount (₹ crore) % of Total deposits % of Total Liabilities (ii) Top 20 large deposits (amount in ₹ crore and percent of total deposits) (iii) Top 10 borrowings (amount in ₹ crore and percent of total borrowings) (iv) Funding Concentration based on significant instrument / product Sr No. Name of the instrument/product Amount (₹ crore) % of Total Liabilities (v) Stock Ratios i) Commercial papers as a percent of total public funds, total liabilities and total assets ii) Non-convertible debentures (original maturity of less than one year) as a percent of total public funds, total liabilities and total assets iii) Other short-term liabilities, if any as a percent of total public funds, total liabilities and total assets iv) Institutional set-up for liquidity risk management (14) Credit Default Swaps (i) With reference to CDS transactions undertaken by an NBFC, it shall disclose following details in its ‘Notes to Accounts’. (₹ crore) 1. No. of transactions during the year 2. Amount of protection bought during the year 3. No. of transactions where credit event payment was received during the year a) pertaining to current year's transactions b) pertaining to previous year(s)' transactions 4. Outstanding transactions as on March 31 a) No. of Transactions b) Amount of protection 5. Net income / profit (expenditure / loss) in respect of CDS transactions during year-to-date a) premium paid b) Credit event payments received (net of value of deliverable obligation). (15) Comparison between provisions required under IRACP and impairment allowances made under Ind AS 109 An NBFC, implementing Ind AS, shall make following disclosure comparing provisioning under IRACP and impairment allowance under Ind AS 109. Asset Classification as per RBI Norms Asset classification as per Ind AS 109 Gross Carrying Amount as per Ind AS Loss Allowances (Provisions) as required under Ind AS 109 Net Carrying Amount Provisions required as per IRACP norms Difference between Ind AS 109 provisions and IRACP norms (1) (2) (3) (4) (5)=(3)-(4) (6) (7) = (4)-(6) Performing Assets Standard Stage 1 Stage 2 Subtotal Non-Performing Assets (NPA) Substandard Stage 3 Doubtful - up to 1 year Stage 3 1 to 3 years Stage 3 More than 3 years Stage 3 Subtotal for doubtful Loss Stage 3 Subtotal for NPA Other items such as guarantees, loan commitments, etc. which are in the scope of Ind AS 109 but not covered under current Income Recognition, Asset Classification and Provisioning (IRACP) norms Stage 1 Stage 2 Stage 3 Subtotal Total Stage 1 Stage 2 Stage 3 Total C.2 Disclosure requirements for NBFCs-Middle Layer (NBFCs-ML) and Upper Layer (NBFCs-UL) 22. An NBFC shall make following disclosures in ‘Notes to Accounts’ to the financial statements. 1) Summary of significant accounting policies An NBFC shall disclose the accounting policies regarding key areas of operations at one place along with ‘Notes to Accounts’ in its financial statements. A suggestive list includes – basis of accounting, transactions involving foreign exchange, investments - classification, valuation, etc., advances and provisions thereon, fixed Assets and depreciation, revenue recognition, employee benefits, provision for taxation, net profit, etc. 2) Capital (Amount in ₹ crore) Particulars Current Year Previous Year (i) CRAR (%) (ii) CRAR – Tier 1 capital (%) (iii) CRAR – Tier 2 capital (%) (iv) Amount of subordinated debt raised as Tier- 2 capital (v) Amount raised by issue of Perpetual Debt Instruments A non-deposit taking NBFC issuing Perpetual Debt Instrument, shall make suitable disclosures in its Annual Report about: (i) Amount of funds raised through PDI during the year and outstanding at the close of the financial year; (ii) Percentage of the amount of PDI of the amount of its Tier 1 capital; (iii) Mention the financial year in which interest on PDI has not been paid 3) Investments (Amount in ₹ crore) Particulars Current Year Previous Year 1. Value of Investments (i) Gross Value of Investments (a) In India (b) Outside India (ii) Provisions for Depreciation (a) In India (b) Outside India (iii) Net Value of Investments (a) In India (b) Outside India 2. Movement of provisions held towards depreciation on investments (i) Opening balance (ii) Add: Provisions made during the year (iii) Less: Write-off / write-back of excess provisions during the year (iv) Closing balance 4) Derivatives (i) Forward rate agreement / interest rate swap (Amount in ₹ crore) Particulars Current Year Previous Year (i) The notional principal of swap agreements (ii) Losses which would be incurred if counterparties failed to fulfil their obligations under the agreements (iii) Collateral required by the NBFC upon entering into swaps (iv) Concentration of credit risk arising from the swaps $ (v) The fair value of the swap book @ Note: Nature and terms of the swaps including information on credit and market risk and the accounting policies adopted for recording the swaps should also be disclosed. $ Examples of concentration could be exposures to particular industries or swaps with highly geared companies. @ If the swaps are linked to specific assets, liabilities, or commitments, the fair value would be the estimated amount that the NBFC would receive or pay to terminate the swap agreements as on the balance sheet date. (ii) Exchange traded interest rate (IR) derivatives (Amount in ₹ crore) Particulars Amount (i) Notional principal amount of exchange traded IR derivatives undertaken during the year (instrument wise) (a) (b) (c) (ii) Notional principal amount of exchange traded IR derivatives outstanding as on 31st March …. (instrument wise) (a) (b) (c) (iii) Notional principal amount of exchange traded IR derivatives outstanding and not ‘highlyeffective’ (instrument wise) (a) (b) (c) (iv) Mark-to-market value of exchange traded IR derivatives outstanding and not ’highly effective‘ (instrument wise) (a) (b) (c) (iii) Disclosures on risk exposure in derivatives Qualitative disclosures An NBFC shall describe its risk management policies pertaining to derivatives with particular reference to the extent to which derivatives are used, the associated risks and business purposes served. The discussion shall also include: (a) The structure and organisation for management of risk in derivatives trading, (b) The scope and nature of risk measurement, risk reporting and risk monitoring systems, (c) Policies for hedging and / or mitigating risk and strategies and processes for monitoring the continuing effectiveness of hedges/mitigants, and (d) Accounting policy for recording hedge and non-hedge transactions; recognition of income, premiums and discounts; valuation of outstanding contracts; provisioning, collateral and credit risk mitigation. Quantitative disclosures (Amount in ₹ crore) Sl.No. Particulars Currency Derivatives Interest Rate Derivatives (i) Derivatives (Notional Principal Amount) For Hedging (ii) Marked to Market Positions (a) Assets (+) (b) Liability (-) (iii) Credit Exposure (iv) Unhedged Exposures 5) Asset liability management (Maturity pattern of certain items of Assets and Liabilities) 1 to 7 days 8 to 14 days 15 to 30 / 31 days Over one month upto 2 months Over 2 months upto 3 months Over 3 months and to 6 months Over 6 months and up to 1 year Over 1 year and up to 3 years Over 3 years and up to 5 years Over 5 years Total Deposits Advances Investments Borrowings Foreign Currency assets Foreign Currency liabilities 6) Exposures (i) Details of financing of parent company products (ii) Details of Single Borrower Limit (SGL) / Group Borrower Limit (GBL) exceeded by the NBFC An NBFC shall make appropriate disclosure in respect of the exposures where it had exceeded the prudential exposure limits during the year. Computation of exposure limits shall be reckoned as per Credit / investment concentration Norms / Large Exposure Framework prescribed by the Reserve Bank, as applicable. Note – For computation of exposure limit an NBFC shall refer the Reserve Bank of India (Non-Banking Financial Companies – Concentration Risk Management) Directions, 2025 . (iii) Unsecured advances (a) For determining the amount of unsecured advances, the rights, licenses, authorisations, etc., charged to an NBFC as collateral in respect of projects (including infrastructure projects) financed by it, shall not be reckoned as tangible security. Hence, such advances shall be reckoned as unsecured. (b) The NBFC shall also disclose the total amount of advances for which intangible securities such as charge over the rights, licenses, authority, etc. has been taken as also the estimated value of such intangible collateral. The disclosure shall be made under a separate head in ‘Notes to Accounts’. This would differentiate such loans from other entirely unsecured loans. 7) Corporate governance Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Paragraph C of Schedule V - Annual Report) as amended from time to time, specifies disclosures to be made in the section on the corporate governance of the Annual Report. With respect to the corporate governance report, non-listed NBFC should also endeavour to make full disclosure in accordance with the requirement of SEBI (LODR) Regulation, 2015. Non-listed NBFC at the minimum should disclose following under the corporate governance section of the annual report. (i) Composition of the Board Sl. No. Name of Director Director since Capacity (i.e., Executive/ Non-Executive/ Chairman/ Promoter nominee/ Independent) DIN Number of Board Meetings No. of other Directorships Remuneration No. of shares held in and convertible instruments held in the NBFC Held Attended Salary and other compensation Sitting Fee Commission (ii) Details of change in composition of the Board during the current and previous financial year. Sl. No. Name of Director Capacity (i.e., Executive / Non-Executive / Chairman / Promoter nominee / Independent) Nature of change (resignation, appointment) Effective date Where an independent director resigns before expiry of her / his term, the reasons for resignation as given by her / him shall be disclosed. Details of any relationship amongst the directors inter-se shall be disclosed (iii) Committees of the Board and their composition (a) Mention the names of the committees of the Board. (b) For each committee, mention the summarised terms of reference and provide the following details. Sl. No. Name of Director Member of Committee since Capacity (i.e., Executive/ Non-Executive/ Chairman/ Promoter nominee/ Independent) Number of Meetings of the Committee No. of shares held in the NBFC Held Attended 1. Chairperson 2. (iv) General body meetings Give details of the date, place and special resolutions passed at the General Body Meetings. Sl. No. Type of Meeting (Annual/ Extra-Ordinary) Date and Place Special resolutions passed (v) Details of non-compliance with requirements of Companies Act, 2013 The details and reasons of any default in compliance with the requirements of Companies Act, 2013, including with respect to compliance with accounting and secretarial standards shall be disclosed. (vi) Details of penalties and strictures An NBFC shall disclose in public domain and in ‘Notes to Accounts’, the details of penalties or stricture imposed on it by the Reserve Bank or any other statutory / regulatory authority. Further, directions on the basis of inspection reports or other adverse findings shall also be disclosed in the public domain. (vii) Management discussion and analysis report As part of the Directors’ report or as an addition thereto, a Management Discussion and Analysis report shall form part of the Annual Report to the shareholders. This Management Discussion & Analysis shall include discussion on the following matters within the limits set by the company’s competitive position: (a) Industry structure and developments (b) Opportunities and threats (c) Segment–wise or product-wise performance (d) Outlook (e) Risks and concerns. (f) Internal control systems and their adequacy (g) Discussion on financial performance with respect to operational performance. (h) Material developments in Human Resources / Industrial Relations front, including number of people employed. 8) Breach of covenant An NBFC shall disclose all instances of breach of covenant of loan availed or debt securities issued. 9) Divergence in Asset Classification and Provisioning An NBFC shall disclose details of divergence as per the table given below, if either or both of the following conditions are satisfied: a) the additional provisioning requirements assessed by the Reserve Bank exceeds five percent of the reported profits before tax and impairment loss on financial instruments for the reference period, or b) the additional Gross NPAs identified by RBI exceeds five per cent of the reported Gross NPAs for the reference period. Sr. Particulars Amount 1. Gross NPAs as on March 31, 20XX* as reported by the NBFC 2. Gross NPAs as on March 31, 20XX as assessed by the Reserve Bank of India/ NHB 3. Divergence in Gross NPAs (2-1) 4. Net NPAs as on March 31, 20XX as reported by the NBFC 5. Net NPAs as on March 31, 20XX as assessed by Reserve Bank of India/ NHB 6. Divergence in Net NPAs (5-4) 7. Provisions for NPAs as on March 31, 20XX as reported by the NBFC 8. Provisions for NPAs as on March 31, 20XX as assessed by Reserve Bank of India/ NHB 9. Divergence in provisioning (8-7) 10. Reported Profit before tax and impairment loss on financial instruments for the year ended March 31, 20XX 11. Reported Net Profit after Tax (PAT) for the year ended March 31, 20XX 12. Adjusted (notional) Net Profit after Tax (PAT) for the year ended March 31, 20XX after considering the divergence in provisioning * March 31, 20XX is the close of the reference period in respect of which divergences were assessed 10) Registration from other financial sector regulators An NBFC shall disclose registration / license / authorisation, by whatever name called, obtained from other financial sector regulators. 11) Area of Operation Information namely, area, country of operation and joint venture partners with regard to joint ventures and overseas subsidiaries shall also be disclosed. 12) Disclosure of ratings An NBFC shall make disclosure of ratings assigned by Credit Rating Agencies to it and migration of its ratings during the year. 13) Remuneration of Directors An NBFC shall disclose all pecuniary relationship or transactions of the non-executive directors vis-à-vis the company. 14) Net Profit or Loss for the period, prior period items and changes in accounting policies Since the format of the Profit and Loss account does not specifically provide for disclosure of the impact of prior period items on the current year's profit and loss, such disclosures, wherever warranted, shall be made by an NBFC. 15) Revenue Recognition An NBFC shall disclose the circumstances in which revenue recognition has been postponed pending the resolution of significant uncertainties. 16) Provisions and contingencies An NBFC shall disclose details of provisions and contingencies in following format. (Amount in ₹ crore) Break up of 'Provisions and Contingencies' shown under the head Expenditure in Profit and Loss Account Current Year Previous Year Provisions for depreciation on Investment Provision towards NPA Provision made towards Income tax Other Provision and Contingencies (with details) Provision for Standard Assets 17) Draw down from Reserves An NBFC shall make suitable disclosures regarding any draw down of reserves. 18) Concentration of deposits, advances, exposures and NPAs (i) Concentration of Deposits (for deposit taking NBFCs) (Amount in ₹ crore) Particulars Total deposits of twenty largest depositors Percentage of Deposits of twenty largest depositors to Total Deposits of the deposit taking NBFC (ii) Concentration of Advances (Amount in ₹ crore) Particulars Total Advances to twenty largest borrowers Percentage of Advances to twenty largest borrowers to Total Advances of the NBFC (iii) Concentration of Exposures (Amount in ₹ crore) Particulars Total Exposure to twenty largest borrowers / customers Percentage of Exposures to twenty largest borrowers / customers to Total Exposure of the NBFC on borrowers/customers (iv) Concentration of NPAs (Amount in ₹ crore) Particulars Total Exposure to top four NPA accounts 19) Movement of NPAs (Amount in ₹ crore) Particulars Current Year Previous Year (i) Net NPAs to Net Advances (%) (ii) Movement of NPAs (Gross) (a) Opening balance (b) Additions during the year (c) Reductions during the year (d) Closing balance (iii) Movement of Net NPAs (a) Opening balance (b) Additions during the year (c) Reductions during the year (d) Closing balance (iv) Movement of provisions for NPAs (excluding provisions on standard assets) (a) Opening balance (b) Provisions made during the year (c) Write-off/write-back of excess provisions (d) Closing balance 20) Overseas assets (for those with joint ventures and subsidiaries abroad) Name of the Joint Venture/ Subsidiary Other Partner in the JV Country Total Assets 21) Off-balance sheet SPVs sponsored (which are required to be consolidated as per accounting norms) Name of the SPV sponsored Domestic Overseas 22) Off-balance sheet exposures and structured products An NBFC shall provide details of details of all off-balance sheet exposures and structured products issued by it. 23) Disclosure on Liquidity Coverage Ratio (LCR) Provisions of this Paragraph shall not apply to non-deposit taking NBFCs with asset size below ₹5000 crore, Core Investment Companies (CICs), and SPDs. An NBFC shall adhere to the following LCR Disclosure standards: (i) An NBFC shall disclose information on its LCR covering all the four quarters of relevant financial year (whether audited or otherwise) in the template given below. (ii) Data must be presented as simple averages of daily observations over the previous quarter (i.e., the average is calculated over a period of 90 days). (iii) In addition to the disclosures required by the template given below, the NBFC shall provide sufficient qualitative discussion (in its annual financial statements under ‘Notes to Accounts’) around the LCR to facilitate understanding of the results and data provided. For example, where significant to the LCR, the NBFC could discuss: (a) the main drivers of its LCR results and the evolution of the contribution of inputs to the LCR’s calculation over time; (b) intra-period changes as well as changes over time; (c) the composition of High Quality Liquid Assets (HQLAs); (d) concentration of funding sources; (e) derivative exposures and potential collateral calls; (f) currency mismatch in the LCR; (g) other inflows and outflows in the LCR calculation that are not captured in the LCR common template but which the institution considers to be relevant for its liquidity profile. LCR Disclosure Template (₹ in Crore) Total Unweighted* Value (average) Total Weighted $ Value (average) High Quality Liquid Assets 1 # Total High Quality Liquid Assets (HQLA) Cash Outflows 2 Deposits (for deposit taking companies) 3 Unsecured wholesale funding 4 Secured wholesale funding 5 Additional requirements, of which (i) Outflows related to derivative exposures and other collateral requirements (ii) Outflows related to loss of funding on debt products (iii) Credit and liquidity facilities 6 Other contractual funding obligations 7 Other contingent funding obligations 8 Total Cash Outflows Cash Inflows 9 Secured lending 10 Inflows from fully performing exposures 11 Other cash inflows 12 Total Cash Inflows Total Adjusted Value 13 Total HQLA 14 Total Net Cash Outflows 15 Liquidity Coverage Ratio (%) *Unweighted values must be calculated as outstanding balances maturing or callable within 30 days (for inflows and outflows). $ Weighted values must be calculated after the application of respective haircuts (for HQLA) and stress factors on inflow and outflow. # Components of HQLA need to be disclosed. Note: NBFC shall be guided by the Reserve Bank of India (Non-Banking Financial Companies – Asset Liability Management) Directions, 2025 , as amended from time to time, for associated guidelines on asset liability management including LCR. 24) Currency Options Disclosures shall be made in the balance sheet regarding transactions, if any, undertaken in the designated currency options exchanges recognized by SEBI, in accordance with the guidelines issued by SEBI. C.3 Disclosure requirements for NBFC - Upper Layer (UL) 23. An NBFC-UL shall be mandatorily listed within three years of identification as NBFC-UL. Accordingly, upon being identified as NBFC-UL, an unlisted NBFC-UL shall draw up a Board approved roadmap for compliance with the disclosure requirements of a listed company under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time). 3 [Provided that these provisions shall not be applicable to NBFC-UL which are fully owned and controlled by Government.] Chapter-IV Consolidated Financial Statements 24. An NBFC may be guided by general clarifications issued by the ICAI from time to time. A parent company, presenting the consolidated financial statements (CFS), shall consolidate the financial statements of all subsidiaries - domestic as well as foreign. The reasons for not consolidating a subsidiary shall be disclosed in the CFS. The responsibility of determining whether a particular entity shall be included or not for consolidation would be that of the management of the parent entity. In case, its Statutory Auditors are of the opinion that an entity which ought to have been consolidated has been omitted, they shall incorporate their comments in this regard in the "Auditors Report". Chapter-V Repeal and other provisions A. Repeal and saving 25. With the issue of these Directions, the existing Directions, instructions, and guidelines relating to Financial Statements- Presentation and Disclosures as applicable to Non-Banking Financial Companies stand repealed, as communicated vide circular DOR.RRC.REC.302/33-01-010/2025-26 dated November 28, 2025 . The directions, instructions, and guidelines repealed prior to the issuance of these Directions shall continue to remain repealed. 26. Notwithstanding such repeal, any action taken or purported to have been taken, or initiated under the repealed Directions, instructions, or guidelines shall continue to be governed by the provisions thereof. All approvals or acknowledgments granted under these repealed lists shall be deemed as governed by these Directions. Further, the repeal of these directions, instructions, or guidelines shall not in any way prejudicially affect: a. any right, obligation or liability acquired, accrued, or incurred thereunder; b. any penalty, forfeiture, or punishment incurred in respect of any contravention committed thereunder; c. any investigation, legal proceeding, or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture, or punishment as aforesaid; and any such investigation, legal proceedings or remedy may be instituted, continued, or enforced and any such penalty, forfeiture or punishment may be imposed as if those directions, instructions, or guidelines had not been repealed. B. Application of other laws not barred 27. The provisions of these Directions shall be in addition to, and not in derogation of the provisions of any other laws, rules, regulations or directions, for the time being in force. C. Interpretations 28. For the purpose of giving effect to the provisions of these Directions or in order to remove any difficulties in the application or interpretation of the provisions of these Directions, the RBI may, if it considers necessary, issue necessary clarifications in respect of any matter covered herein and the interpretation of any provision of these Directions given by the RBI shall be final and binding. (Sunil T S Nair) Chief General Manager 1 Substituted with effect from July 01, 2026 vide Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026 dated April 29, 2026 . 2 Inserted with effect from April 01, 2026 vide Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Directions, Amendment Directions, 2026 dated January 5, 2026 3 Inserted vide Reserve Bank of India (Non-Banking Financial Companies – Financial Statements: Presentation and Disclosures) Second Amendment Directions, 2026 dated June 24, 2026 .