Financial Statements - Presentation and Disclosures

EC No.71/ DoS - 20/ 2023

13 April 2023

Ref. No. NB. HO. DoS. Pol. /131/ J-1 / 2023-24

The Chairman, All RRBs
All Managing Director, All State Cooperative Banks
The Managing Director/ Chief Executive Officer,
All District Central Cooperative Banks

Madam /Dear Sir

Financial Statements - Presentation and Disclosures

As you are aware, Reserve Bank of India, from time to time, issues guidelines/ instructions/ directives to the banks on the presentation of financial statements, regulatory clarification on compliance with accounting standards, and disclosures in notes to accounts etc.

2. RBI has issued Master Direction (MD)DOR.ACC.REC.No.45 /21.04.018 /2021-22 dated August 30, 2021 (updated as on 20 February 2023) applicable to all Commercial Banks, Urban Cooperative Banks (UCBs), State Co-operative Banks, Central Co-operative Banks, and Regional Rural Banks (RRBs) incorporating, updating and where required, harmonizing across the banking sector the extant guidelines/instructions/ directives on the subject to enable banks to have all current instructions on presentation and disclosure in financial statements at one place for reference.

3. We, therefore, advise that StCBs, DCCBs, and RRBs may ensure adherence to the instructions contained in the above Master Direction (MD) DOR. ACC. REC. No. 45/21.04.018/2021-22 dated August 30, 2021 (updated as on 20 February 2023), while finalising financial statements every year. This may also be brought to the notice of the Statutory Auditors of your bank.

4. Please acknowledge the receipt of this circular to our Regional Office in your State/ UT.

Yours faithfully

(K. S. Raghupathi)
Chief General Manager

Encls: as above