{"id":280348,"date":"2022-12-24T17:00:49","date_gmt":"2022-12-24T11:30:49","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=280348"},"modified":"2022-12-24T10:46:24","modified_gmt":"2022-12-24T05:16:24","slug":"rbi-issues-circular-on-disclosure-of-material-items-under-rbi-financial-statement-presentation-and-disclosures-directions-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/24\/rbi-issues-circular-on-disclosure-of-material-items-under-rbi-financial-statement-presentation-and-disclosures-directions-2021\/","title":{"rendered":"RBI issues circular on disclosure of material items under RBI (Financial Statement- Presentation and Disclosures) Directions, 2021"},"content":{"rendered":"

On 13-12-2022, the Reserve Bank of India (\u2018RBI\u2019) has issued circular on Disclosure of material items under the Reserve Bank of India (Financial Statement- Presentation and Disclosures) Directions, 2021 in order to ensure greater transparency.\u00a0<\/span>\u00a0<\/span><\/p>\n

Applicability: <\/span><\/b>Applicable to all commercial banks. The instructions of this circular will come into effect from the financial year ending 31-3-2023 and onwards.<\/span>\u00a0<\/span><\/p>\n

Key Points:\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

    \n
  1. In addition to the previous disclosures, the banks, now have to disclose to the accounts, the particulars of all such items in the notes wherever any item exceeds one percent of the total assets under:<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
      \n
    • \n
        \n
      • \u00a0the Schedule 5(IV)- Other Liabilities and Provisions- \u201cOthers (including; provisions)\u201d\u00a0<\/span>\u00a0<\/span><\/li>\n
      • \u00a0Schedule 11(VI)-Other Assets- \u201cOthers\u201d.\u00a0<\/span>\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
          \n
        1. In the case of Payments Banks, such disclosure has to be made where any item under the Schedule 14(I)-Other Income- \u201cCommission, Exchange and Brokerage\u201d exceeds one per cent of the total income.<\/span>\u00a0<\/span><\/li>\n<\/ol>\n
          \n

          *Kriti Kumar, Editorial Assistant has reported this brief.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

          On 13-12-2022, the Reserve Bank of India (\u2018RBI\u2019) has issued circular on Disclosure of material items under the Reserve Bank of India <\/p>\n","protected":false},"author":8808,"featured_media":278862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[35845,52538,2611],"class_list":["post-280348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-circular","tag-financial-statement","tag-RBI"],"yoast_head":"\nRBI issues circular on disclosure of material items under RBI (Financial Statement- Presentation and Disclosures) Directions, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Federation Internationale de Football Association Under-17 Women\u2019s World Cup, 2022 as the international sporting event; READ MORE NDPS\u2026","rel":"","context":"In "Legal RoundUp"","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/01\/MicrosoftTeams-image-76.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":221764,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/04\/sebi-disclosure-of-divergence-in-the-asset-classification-and-provisioning-by-banks\/","url_meta":{"origin":280348,"position":1},"title":"SEBI | Disclosure of divergence in the asset classification and provisioning by banks","author":"Bhumika Indulia","date":"November 4, 2019","format":false,"excerpt":"1. Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (\u2018SEBI LODR Regulations\u2019) a listed entity shall disclose to stock exchange(s) all events or information, which are material, as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information.\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":265719,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/21\/rbi-mandates-nbfc-to-make-additional-disclosure-in-financial-statements\/","url_meta":{"origin":280348,"position":2},"title":"RBI mandates NBFC to make additional disclosure in financial statements","author":"Bhumika Indulia","date":"April 21, 2022","format":false,"excerpt":"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.\u00a0The additional disclosure requirements for NBFCs are in accordance with the SBR framework and are outlined HERE. 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These directions come into immediate effect replacing the existing instructions on the matter of sale \/ transfer of loan exposures. Applicability The provisions of these directions shall\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/rbi_2.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":250479,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/30\/rbi-issues-guidelines-on-declaration-of-dividends-by-nbfcs\/","url_meta":{"origin":280348,"position":5},"title":"RBI issues guidelines on declaration of dividends by NBFCs","author":"Prachi Bhardwaj","date":"June 30, 2021","format":false,"excerpt":"The Reserve Bank of India has issued circular dated June 24, 2021 prescribing the guidelines on distribution of dividend by NBFC\u2019s. 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