Circulars

Offsite Surveillance System - Revision of Due Dates for Submission of OSS/FMS Returns

EC No. 44 / DoS – 06 /2022

28 March 2022

Ref.No.NB.DoS.HO/OSS/ 4826 /P.63/2021-22

Managing Director / CEO, All State Cooperative Banks,

Managing Director / CEO, All District Central Cooperative Banks

Dear Sir / Madam

Offsite Surveillance System – Revision of Due Dates for Submission of OSS/FMS Returns

Please refer to our circular No. NB.DoS.HO/OSS/3769/P.63/2014-15 dated 04 March 2015 on the captioned subject indicating about various statutory returns, their periodicity of submission and due dates. Keeping in view the need to make the process more user-friendly, the system of submitting the OSS Returns was revised by NABARD in 2015 and introduced a Web portal (ENSURE) for electronic submission of returns. The system has been stabilised and NABARD has been obtaining OSS returns at prescribed intervals from Supervised Entities (SEs) for fulfilling its statutory responsibilities.

2. Over the last six years, there have been significant developments in the field of technology adoption by the Supervised Entities (SEs) and a large number of deterrents in submission of timely and accurate data have since been addressed effectively. It is acknowledged that adoption of Core Banking Solutions (CBS) and other related technologies at SEs level and stabilization of ENSURE portal at NABARD, have enhanced the capabilities of banks to submit timely and accurate data to NABARD.

3. Government of India vide Gazette Notification No. DL—(N) 04/0007/2003—20 dated 29 September 2020 has amended the B R Act, 1949. Prior to the amendment, Cooperative banks were required to publish the accounts and balance sheet in the prescribed manner and furnish them as returns to RBI and NABARD within a period of six months from the period to which they relate. Post amendment, Cooperative banks are required to furnish the information within three months from the period to which they relate.

4. Accordingly, it has been decided to revisit the timelines for submission of OSS returns by the SEs, which would, inter alia, enable to improve the efficacy of analysing the performance of SEs in a systematic and timely manner. We advise all State Cooperative Banks and District Central Cooperative Banks to submit the OSS/FMS returns as per the revised due dates and the revised dates would be effective from the quarter ending 31 March 2022 onwards. The details of OSS/FMS returns are as under:

Sr. No Return No Name of the Return Periodicity
OSS Returns
1 OSC 1 Statement on Assets and Liabilities Quarterly
2 OSC 2 Statement on Earnings Quarterly
3 OSC 3 Statement on Segment/Sector wise Advances Quarterly
4 OSC 4 Statement on Asset Quality Quarterly
5 OSC 5 Statement on NPAs, OTS, write-off and large advances Quarterly
6 OSC 6 Statement on Management Yearly
7 OSC 7 Statement on CRAR Yearly
8 OSC 8 Statement on Bank Profile Yearly
9 OSC 9 Statement on Demand, Collection, and Balance Yearly, as on 30 June
10 OSC 10 Statement on Qualitative Indicators Quarterly
Returns on Frauds and Dacoity
1 FMS 1 Report on actual/ suspected frauds detected during the Reporting Period Event based
2 FMS 2 Frauds Outstanding and all New cases of frauds Quarterly
3 FMS 3 Progress in disposal of all Fraud cases Quarterly
4 FMS 4 Report on Dacoities/ Robberies/ Theft/ Burglaries occurred during the quarter Quarterly
5 FMS 4.a Immediate Report on Dacoities/ Robberies/ Theft/ Burglaries occurred Event based
6 VINFRA Vulnerability Index on Frauds (VINFRA) Yearly

5. Due date for submitting various returns are mentioned below.

Return Quarter Period ending Due Date
OSS Returns
OSC 1 to 5 & 10 June 30-Jun 31-Jul
September 30-Sep 31-Oct
December 31-Dec 31-Jan
March (Unaudited) 31-Mar 30-Apr
March (Audited) 31-Mar 30-Jun
OSC 6 Annual 31-Mar 30-Jun
OSC 7 Annual 31-Mar 30-Jun
OSC 8 Annual 31-Mar 30-Jun
OSC 9 Annual 30-Jun 31-Jul
FMS Returns
FMS -1 Event Based – within three weeks from date of detection
FMS 2 to 4 June 30-Jun 31-Jul
September 30-Sep 31-Oct
December 31-Dec 31-Jan
March 31-Mar 30-Apr
FMS -4a Event Based – Immediate reporting
VINFRA March 31-Mar 30-Jun

6. The SE may study the revision in timelines for submission of OSS/FMS returns and make suitable changes/improvements in its internal MIS so that all the required data/information is available at its Head Office for submission of these returns within the prescribed due dates.

7. The OSS / FMS returns are prescribed by NABARD in exercise of the powers conferred under Section 27(3) of Banking Regulation Act, 1949 / AACS and are hence statutory in nature. All banks are, therefore, advised to ensure submission of these returns as per the schedule prescribed without fail. Non-submission of or wrong reporting in these returns attracts penalties as specified in the Act.

8. Please acknowledge the receipt of this circular to our Regional Office concerned.

Sincerely

(KS Raghupati)
Chief General Manager

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