The
Presidents/CEOs,
All Micro Finance Banks
Dear
Sirs / Madam,
Submission
of Periodical Returns and Minutes of Board of Directors’/General
Meetings
As a consequence of recent internal restructuring at the
State Bank, the Offsite Supervision & Enforcement functions
have been transferred to the “Offsite Supervision
and Enforcement Department (OSED)”. All Micro Finance
Banks are, therefore, advised to henceforth submit periodical
returns (i.e. Biweekly statement of Affairs and Quarterly
Report of Conditions -QRC) to OSED instead of this department.
2. Microfinance Banks shall also submit certified copies
of the approved minutes of meeting of their Board of Directors
(BoD) and the general meetings (AGMs / EOGMs) to OSED with
a copy to SME & Microfinance Department, within fifteen
days of the date of the meeting in which these minutes were
approved, along with the particulars of the directors present
in the said meeting. It must be ensured that the minutes
also contain the details of matters decided/resolved through
circulation. The approved minutes should be submitted in
the form of hard copies, certified by the company secretary,
to both OSED & SME & Microfinance Department whereas
the soft copy of minutes on a floppy diskette/compact disk
shall be submitted to OSED only.
The above-mentioned returns/minutes shall be submitted to
OSED at following address: