**Summary:**
This Reserve Bank of India (RBI) circular, DoR.PCB.BPD.Cir.No.212/05.001/2020-21, dated August 26, 2020, addresses all Primary Urban Cooperative Banks (UCBs) regarding the extension of time for submitting returns under Section 31 of the Banking Regulation Act, 1949.
Due to the notification of the Banking Regulation Amendment Ordinance, 2020 on June 29, 2020, and potential difficulties faced by UCBs because of the COVID-19 pandemic, the RBI has extended the deadline for submitting the returns for the financial year ending March 31, 2020, by an additional three months.
UCBs are now required to submit the returns to the Reserve Bank on or before September 30, 2020.
For further information, contact Neeraj Nigam, Chief General Manager, Department of Regulation, Central Office, 1st Floor, Bandra-Kurla Complex, Mumbai – 400051. Phone: 022-26571112; Email: cgmdcbrcor@rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking sector.
Banking Regulation Act, 1949: An act of the Parliament of India to regulate banking companies in India.
Primary Urban Cooperative Banks: A type of cooperative bank in India.
Section 31 of the Banking Regulation Act, 1949: Section of the Banking Regulation Act, 1949 pertaining to the submission of returns.
Banking Regulation Amendment Ordinance, 2020: An ordinance amending the Banking Regulation Act, 1949.
COVID-19: The coronavirus disease 2019 pandemic.
Mumbai, Maharashtra: City in India where the Central Office of the Department of Regulation, Reserve Bank of India is located.
Neeraj Nigam: Chief General Manager, Department of Regulation, Reserve Bank of India
भारतीय �रज़व र् बक�
__________________________RESERVE BANK OF INDIA________________________
www.rbi.org.in
RBI/2020-21/28
DoR (PCB).BPD.Cir.No.2/12.05.001/2020-21 August 26, 2020
The Chief Executive Officer
All Primary (Urban) Co-operative Banks
Madam / Dear Sir,
Submission of returns under Section 31 of the Banking Regulation Act, 1949 (AACS) –
Extension of time
In terms of section 31 of the Banking Regulation Act, 1949 (“the Act”) read with Section 56 the
Act [as amended by the Banking Regulation (Amendment) Ordinance, 2020], accounts and
balance-sheet referred to in section 29 of the Act together with the auditor's report shall be
published in the prescribed manner and three copies thereof shall be furnished as returns to
the Reserve Bank within three months from the end of the period to which they refer. In terms
of the first proviso to the above section, Reserve Bank may in any case extend the said period
of three months for the furnishing of such returns by a further period not exceeding three
months.
2. Since the aforesaid Ordinance amending, inter alia, Section 31 has been notified on June
29, 2020 for the primary (urban) co-operative banks (UCBs) and also as UCBs may be facing
difficulties in submission of the returns due to the ongoing COVID-19 pandemic, it is
considered necessary to allow more time for submission of the aforesaid return for the financial
year ended on March 31, 2020.
3. In view of the above, Reserve Bank hereby extends the said period of three months for the
furnishing of the returns under Section 31 of the Act for the financial year ended on March 31,
2020 by a further period of three months. Accordingly, all UCBs shall ensure submission of
the aforesaid returns to Reserve Bank on or before September 30, 2020.
Yours faithfully,
(Neeraj Nigam)
Chief General Manager
िविनयमन िवभाग क��ीय कायार्लय, सी पहली मंिज़ल बान्�ाकुलार् सकं ुल बान्�ा पूवर्,मुंबई , भारत
, फोन: ( -) 7 , 1112 ई म ,ेल: cgm -dcbrco@r ,b i.org.in ( ) - 400051
Department of Regulation, Central O02ff2ice2,6 C57-7, 1st
;
Floor, Bandra-Kurla Complex, Mumbai - 400051, India
Phone: (022) 26571112; E-mail: cgmdcbrco@rbi.org.in
ब�क िहन्दी म� प�ाचार का स्वागत करता ह ै—
चेतावनी भारतीय �रज़वर् ब�क �ारा ईमेल डाक एसएमएस या फोन कॉल के ज�रये कोई भी �ि�गत जानकारी जैसे ब�क खाते का ब्यौरा पासवडर् आ�द नह� माँगा जाता ह।ै यह धन रखने या
देने का �स्ताव भी नह� करता ह।ै ऐसे �स्ताव� का �कसी भी �कार से जवाब मत दीिजए।
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