The Reserve Bank of India (RBI) issued a circular no. CO.DOS.RPD.No.7534/33-06-001/2023-24 dated January 01, 2024 requiring all Non-Banking Financial Companies (NBFCs) to file the applicable returns on new Centralized Information Management System (CIMS) platform.
CIMS is a centralized system introduced for all the regulatory and supervisory return submissions and it shall replace the existing XBRL system. As per the circular, all NBFCs shall be required to file their submissions from December 31, 2023, onwards in both XBRL and CIMS systems until further notification from RBI.
Every NBFC whether existing or new is required to register itself under the CIMS system. The Procedure to register under the CIMS Portal is as follows:
1. Send details of two users in the given format to Mr. Vinay Reddy, Manager ([email protected]) and mark Mr. Rohit Narvane, AGM ([email protected]) and DSG, DoS, CO, Returns Section ([email protected]) in CC.
| NBFC Details | Administrator/ Nodal Officer 1 | Administrator/ Nodal Officer 2 | ||||||||
| Sr. No | NBFC Name | NBFC Code | First Name | Last Name | Email ID | Mobile no. | First Name | Last Name | Email ID | Mobile no. |
i. Only mobile numbers are to be provided as OTP will be sent on the mobile number provided. Do not enter landline numbers.
ii. Only if accurate details are provided, registration of NBFCs will be carried out on the portal.
iii. If NBFC is not registered on the CIMS portal, contact the respective Regional Office department for registration.
2. Access CIMS Portal https://cims.rbi.org.in#login
3. Login into the CIMS Portal using credentials received on registered email IDs. Follow the procedure provided on the registered email ID for Password and Security answer set-up.
The primary mode of filing the returns is through the Return Installers. All installers for the returns except Fraud Monitoring Returns (FMR) are available.
Steps to download applicable installers:
1. Login into CIMS Portal
2. Go to downloads
3. Download Format from Download Return Template/Taxonomy and Return Format
Steps to upload file:
1. Login into CIMS Portal
2. Go to Return Submission
3. Upload XML File and other information under Upload File
4. Submit the uploaded file
Steps to View Returns:
1. Login into CIMS Portal
3. Go to return filing information
Note: For any technical issues faced by the NBFC users send your queries to [email protected] with subject line format as “NBFC CODE RBI Regional Office Name Issue” in all communications. Also mark available email IDs of respective RBI Regional Offices in CC.
Disclaimer: This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement