While the filing of the financial statements in XBRL format had begun for a class of companies, NBFCs were kept outside the purview, despite the fact that these companies also followed the Schedule VI format. Owing to peculiar nature of business as compared to the other Commercial and Industrial companies, a need was felt to identify and compile the NBFCs specific elements and include them in the core C&I taxonomy making it suitable for use of NBFCs as well.

NBFCs as per the definition laid down under the RBI Act, 1934 is very broad. However, for the purposes of this taxonomy, the requirements laid down for the NBFCs registered with RBI and Housing Finance Companies regulated by the National Housing Bank have been included so far. The elements specific to NBFCs have been highlighted in yellow and blue colour.

Comments are invited on the template of taxonomy for NBFCs. Comments may be sent by e-mail at xbrl@icai.org, so as to be received not later than March 31, 2013. Alternatively, comments may be submitted in writing to Dr. Avinash Chander, Technical Director, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi – 110 002.

EXPOSURE DRAFT OF EXCEL TEMPLATE OF TAXONOMY FOR NON-BANKING FINANCIAL COMPANIES (NBFCs)