On April 19, 2022, the Reserve Bank of India has mandated NBFCs to make additional disclosure in financial statement in accordance with the existing prudential guidelines, applicable accounting standards, laws, and regulations. The additional disclosure requirements for NBFCs are in accordance with the SBR framework and are outlined HERE.
These disclosures 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.
These guidelines shall be effective for annual financial statements for year ending March 31, 2023, and onwards.
