Under Section 27(1) of the Banking Regulation Act, 1949, every banking company is required to submit to the Reserve Bank a monthly return showing its assets and liabilities in India. The return must be submitted:

Section 27(1) requires every banking company to submit, before the close of the month succeeding that to which it relates, a return in the prescribed form showing its assets and liabilities in India as at the close of business on the last Friday of every month (or, if that day is a public holiday, on the preceding working day). The word “succeeding” is crucial: the return for January, for instance, must be filed before the end of February. Under sub-section (2), the Reserve Bank may additionally direct a banking company to furnish statements and information relating to its business at any time, and may call for half-yearly information on investments and classification of advances in respect of industry, commerce and agriculture.