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Non-Banking Financial Companies (NBFCs) play a crucial role in India’s financial ecosystem, providing lending and investment services outside the traditional banking sector. However, with increased regulatory scrutiny, NBFC compliance is now more critical than ever.
Failure to comply with RBI regulations for NBFCs can result in hefty fines, restrictions, and even revocation of licenses. This guide provides a detailed NBFC compliance checklist and an annual compliance calendar to ensure your NBFC remains compliant throughout the year.
This guide covers:
✅ NBFC Compliance Checklist – Key regulatory requirements
✅ NBFC Compliance Calendar 2025 – Important filing dates
✅ Consequences of Non-Compliance
✅ How to Stay Compliant?
Why is NBFC Compliance Important?
The Reserve Bank of India (RBI) has strengthened regulatory oversight on NBFCs to ensure financial stability, customer protection, and risk management. NBFC compliance ensures:
✔ Avoidance of penalties & fines
✔ Legal & financial credibility
✔ Better investor & customer trust
✔ Smooth business operations
Ignoring compliance obligations can lead to ₹10 lakh/day penalties and even the cancellation of your NBFC license.
NBFC Compliance Calendar – 2025
1️⃣ Annual Compliance Requirements
| S. No. | Compliance Requirement | Description | Applicable NBFCs | Filing Deadline | Regulating Document |
| 1 | Statutory Auditor Certificate (DNBS10) | Confirmation of compliance with RBI norms | All NBFCs & Asset Reconstruction Companies (ARCs) | Within 5 days from approval of financial statement by the Board but not maximum by 31st December | RBI (Filing of Supervisory Returns) Directions, 2024 |
| 2 | Statutory Auditor Certificate for HFCs | Compliance certification for HFCs | Housing Finance Companies (HFCs) | 30th June | RBI (Returns HFC Circular) |
| 3 | FATF Compliance Certificate | Reporting investments from FATF non-compliant jurisdictions | Housing Finance Companies (HFCs) | 30th June | RBI Circular on FATF Compliance |
| 4 | Board Resolution for Public Deposits | Declaration on non- acceptance of public deposits | NBFC – Investment and Credit Companies (NBFC-ICC) | 30th April | NBFC Public Deposit Directions, 2016 |
| 5 | Board Resolution for Acquisition of Shares/Securities | Resolution regarding investment in group or subsidiary companies | All NBFCs investing in shares/securities | 30th April | NBFC Public Deposit Directions, 2016 |
| 6 | Appointment of Statutory Central Auditor (Form A) | Certification of appointed statutory auditors | All NBFCs | 30th April | RBI (Filing of Supervisory Returns) Directions, 2024 |
| 7 | Income Tax Return (ITR Filing) | Filing of annual tax returns with authorities | All NBFCs | 31st July | Income Tax Act |
| 8 | Balance Sheet & Profit/Loss Statement | Submission of annual financial statements | All NBFCs | 30th September | RBI Master Circular |
| 9 | GST Annual Return (GSTR-9, 9C) | Annual tax return submission for GST | All NBFCs | 31st December | GST Act |
| 10 | FEMA & FDI Compliance | Adhering to FEMA guidelines & reporting foreign investments to RBI | NBFCs with Foreign Direct Investment | 30th June | FEMA & RBI FDI Guidelines |
| 11 | Grievance Redressal & Customer Protection Compliance | Ensuring a proper grievance redressal mechanism and adherence to RBI’s Fair Practices Code (FPC) | All NBFCs | 30th April | RBI Fair Practices Code |
2️⃣ Half-Yearly Compliance Requirements
| S. No. | Compliance Requirement | Description | Applicable NBFCs | Filing Deadline | Regulating Document |
| 1 | Prudential Norms Information (Schedule-II Return) | Reporting capital adequacy, provisioning, NOF, and asset classification | Housing Finance Companies (HFCs) | 12th May, 12th November | Returns HFC Circular |
| 2 | ALM-II Statement | Reporting liquidity and interest rate sensitivity | Deposit-taking & Large NBFCs | 12th May, 12th November | Returns HFC Circular |
| 3 | FDI Compliance Certificate (FDI–SAC) | Compliance with foreign investment rules | HFCs with Foreign Direct Investment | 30th April, 31st October | Returns HFC Circular |
| 4 | Interest Rate Futures (IRF) Transaction Statement | Reporting hedging transactions | NBFCs engaging in derivatives | 30th April, 31st October | Scale Based Regulation Master Circular |
| 5 | Loan Securitization & Borrowing Compliance | Ensuring adherence to RBI securitization & direct assignment guidelines | NBFCs engaged in loan securitization | 30th April, 31st October | RBI Securitization & Direct Assignment Guidelines |
3️⃣ Quarterly Compliance Requirements
| S. No. | Compliance Requirement | Description | Applicable NBFCs | Filing Deadlines | Regulating Document |
| 1 | Financial Details Return (DNBS02) | Reporting financial position, asset classification, and liabilities | NBFCs (Base Layer) | 21st April, 21st July, 21st Oct, 21st Jan | RBI (Filing of Supervisory Returns) Directions, 2024 |
| 2 | Capital Adequacy Ratio (CAR) Reporting | Reporting minimum capital adequacy compliance | All NBFCs | 31st March, 30th June, 30th Sept, 31st Dec | RBI Master Circular |
| 3 | DNBS-01, DNBS-03 Returns | Various prudential returns related to financial performance, risk, and deposits | Middle Layer & Upper Layer NBFCs | 21st April, 21st July, 21st Oct, 21st Jan | RBI Returns Master Direction |
| 4 | DNBS-4A Return | Return of Short Term Dynamic Liquidity | Base Layer NBFC with Asset Size of 100 Crore and Above Middle Layer NBFCs Middle Layer NBFCs | 21st April, 21st July, 21st Oct, 21st Jan | RBI Returns Master Direction |
| 5 | Statutory Compliance Board Meetings | Quarterly meetings discussing regulatory updates | All NBFCs | 4 times a year | Companies Act |
| 6 | Return of Overseas Investments (DNBS13) | Return of Overseas Investments | NBFCs (Base Layer) | 21st April, 21st July, 21st Oct, 21st Jan | RBI (Filing of Supervisory Returns) Directions, 2024 |
4️⃣ Monthly Compliance Requirements
| S. No. | Compliance Requirement | Description | Applicable NBFCs | Filing Deadline | Regulating Document |
| 1 | GST Returns (GSTR-1, GSTR-3B) | Monthly tax filing under GST Act | All NBFCs | 10th & 20th of every month | GST Act |
| 2 | TDS Filing & Payment | Deducting and depositing TDS for employees and contractors | All NBFCs | 7th of every month | Income Tax Act |
| 3 | RBI Liquidity Risk Reports | Submission of liquidity risk reports for NBFCs | Systemically Important NBFCs | 15th of every month | RBI Liquidity Risk Framework |
| 4 | FEMA Foreign Investment Reporting | Report any foreign direct investment (FDI) transactions to RBI | NBFCs with FDI | Monthly | FEMA & RBI FDI Guidelines |
| 5 | Customer Complaint Tracking | Maintain records of customer grievances and resolutions as per RBI guidelines | All NBFCs | Monthly | RBI Fair Practices Code |
| 6 | DNBS-4B Return | Return of Structural Liquidity & Interest Rate Sensitivity | Base Layer NBFC with Asset Size of 100 Crore and Above Middle Layer NBFCs Middle Layer NBFCs | Within 15 days from end of Month | RBI Returns Master Direction |
| 7 | DNBS08 – CRILC-Main | Return for Large Credits & SMA | Base Layer NBFC with Asset Size of 500 Crore and Above, Middle Layer NBFCs Middle Layer NBFCs | Within 30 days from end of Month | RBI Returns Master Direction |
5️⃣ Weekly Compliance Requirements
| S. No. | Compliance Requirement | Description | Applicable NBFCs | Filing Deadline | Regulating Document |
| 1 | CERSAI Reporting (Central Registry of Securitization and Asset Reconstruction) | Reporting securitization and asset reconstruction transactions | NBFCs engaged in secured lending | Weekly | SARFAESI Act |
| 2 | CKYC Uploads | Reporting new customer onboarding under Central KYC | All NBFCs onboarding new customers | Weekly | CKYC RBI Circular |
| 3 | FIU-IND Reporting (Suspicious Transaction Reporting – STR) | Submission of suspicious transaction reports to FIU-IND | All NBFCs | Weekly | Prevention of Money Laundering Act |
| 4 | DNBS09 – CRILC-Weekly | Return for Large Credits & SMA | Base Layer NBFC with Asset Size of 500 Crore and Above, Middle Layer NBFCs Middle Layer NBFCs | On or before Wednesday of the following week | RBI Returns Master Direction |
⚠️ Missing deadlines can result in penalties up to ₹10 Lakh/day!
Consequences of Non-Compliance with RBI Regulations
Failure to meet NBFC compliance requirements can lead to:
❌ Heavy penalties (up to ₹10 Lakh per day for certain violations).
❌ License cancellation or suspension of operations.
❌ Legal action and reputational damage.
❌ Restrictions on lending and financial activities.
To avoid these risks, ensure strict adherence to the NBFC compliance checklist and follow the compliance calendar.
(🚨 RBI recently penalized multiple NBFCs for violations, including non-submission of NBS-1 and AML non-compliance.)
How to Stay RBI Compliant?
📢 NBFC Compliance can be complex, but we’re here to help!
✅ Get a FREE NBFC Compliance Checklist to track your filings & deadlines.
✅ Schedule a 15-Minute Free Compliance Consultation with our experts.
📥 Download Your NBFC Compliance Checklist 2025 – 📩 Click Here
📞 Book a Free Compliance Consultation – 📅 Schedule a Call
Final Thoughts
RBI regulations for NBFCs are evolving, making it crucial for NBFCs to follow a structured compliance checklist and adhere to a compliance calendar. Ensuring timely submissions, regulatory filings, and financial disclosures can help avoid legal troubles, penalties, and operational disruptions.
At NBFC Advisory, we specialize in helping NBFCs stay fully compliant with RBI regulations, taxation laws, and corporate governance requirements. Our team of compliance experts ensures that you never miss a deadline, keeping your business legally sound and financially stable.
Need assistance with NBFC compliance? Let NBFC Advisory handle it for you!
Stay ahead of compliance challenges and focus on growing your business—NBFC Advisory has you covered!
