Consider the following statements : I. The Reserve Bank of India mandates all the listed companies in India to submit a Business Responsibility and Sustainability Report (BRSR). II. In India, a company submitting a BRSR makes disclosures in the report that are largely non-financial in nature. Which of the statements given above is/are correct?

Statement I is incorrect because SEBI (Securities and Exchange Board of India), not the Reserve Bank of India, mandates BRSR. SEBI made BRSR mandatory for the top 1,000 listed companies by market capitalization from FY 2022-23. Statement II is correct because BRSR disclosures focus on Environmental, Social and Governance (ESG) parameters, which are largely non-financial in nature, covering aspects like sustainability, social responsibility, and corporate governance practices. Hence only Statement II is correct.