Format of SAC to be submitted by NBFCs

RBI UPDATE

Format of Statutory Auditors’ Certificate (SAC) to be submitted by NBFCs

In terms of the extant instructions, all NBFCs are required to submit a certificate from their Statutory Auditors every year to the effect that they continue to engage in the business of NBFI requiring it to hold a CoR under Section 45-IA of the RBI Act.

With a view to ensure consistency in the manner in which the information is received from the Auditors, it has been decided to introduce a uniform format of the Statutory Auditors Certificate (SAC).

The NBFC would need to fill in the information, as applicable, in COSMOS. Thereafter, the SAC needs to be scanned and uploaded in COSMOS https://cosmos.rbi.org.in under the menu Upload Returns > Statutory Auditors Certificate.

FORMATS – NRC COMMITTEE
AGENDA OF NRC COMMITTEE MEETING
1	Agenda of Nomination and Remuneration Committee - First Meeting
2	Agenda of Nomination and Remuneration Committee - Subsequent Meeting
MINUTES OF NRC COMMITTEE MEETING
1	Minutes of Nomination and Remuneration Committee - First Meeting
2	Minutes of Nomination and Remuneration Committee - Subsequent Meeting
NRC COMMITTEE RESOLUTION
1	NRC Committee Resolution - Appointment of Additional Director
2	NRC Committee Resolution - Appointment of Chairman of the Committee
3	NRC Committee Resolution - Appointment of Chief Financial Officer
4	NRC Committee Resolution - Appointment of Independent Director
5	NRC Committee Resolution - Appointment of MD / WTD in case of inadequate profit
6	NRC Committee Resolution - Approval of Variable pay for Employees
7	NRC Committee Resolution - Performance Evaluation of Committee Members
8	NRC Committee Resolution - Re-appointment of directors liable to retire by rotation
9	NRC Committee Resolution - Recommendation of Annual Revision of Remuneration of MD / WTD
10	NRC Committee Resolution - Recommendation of Board Evaluation Policy
11	NRC Committee Resolution - Recommendation of Code of Conduct for Independent Directors
12	NRC Committee Resolution - Recommendation of Nomination and Remuneration Policy
13	NRC Committee Resolution - Resignation of Director
14	NRC Committee Resolution - Review of Annual Appraisal of KMP

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