The Reserve Bank of India (RBI) on February 20, 2023, issued a notification in regards to Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 – Disclosures for State Co-operative Banks and Central Co-operative Banks.
The following have been stated namely: -
•In consultation with the National Bank for Agriculture and Rural Development (NABARD), the Reserve Bank of India (Financial Statements - Presentation and Disclosures) Directions, 2021 (‘Master Direction’), are also applicable to State Cooperative Banks and Central Cooperative Banks (also referred to as ‘District Central Co-operative Banks’).
•The Master Direction shall apply to State and Central Cooperative Banks (together referred to as ‘Rural Co-operative Banks’ or ‘RCBs’) mutatis mutandis, unless explicitly specified otherwise, from the financial year ending March 31, 2023. Certain disclosure requirements specified in Annex III-A shall be applicable, to RCBs, from the financial year ending March 31, 2024.
[Notification No.- DOR. ACC. REC. No.103/21.04.018/2022-23]
