India Strengthens Banking Regulation - Several Measures taken by RBI

India Strengthens Banking Regulation

Several measures underway to strengthen soundness of banking system; RBI Annual Report 2018-19 Guidelines on minimum balance requirements for savings bank accounts and penalty for non-maintenance will be reviewed The Reserve Bank of India (RBI) in its annual report 2018-19 has stated that several regulatory and supervisory measures are underway to strengthen the soundness of the banking system. During 2019-20, the banking sector is poised to build upon the consolidation achieved in the year gone […]

India Strengthens Banking Regulation - Several Measures taken by RBI

RBI gets award for innovation in XBRL reporting

MUMBAI: The Reserve Bank today said it has got recognition for its efforts to improve regulatory reporting and has been given the XBRL International Award for Excellence. “The XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL) standard awarded the ‘XBRL International Award for Excellence’ to the Reserve Bank of India (RBI),” it said in a statement. RBI said the award has been given to it in recognition of its efforts in […]

XBRL Taxonomies

XBRL: The new business language

Industry needs to master the new tool for reporting financial statements and understand its implications On March 31, 2011, the Ministry of Corporate Affairs (MCA) issued a circular mandating all listed companies and certain unlisted companies to file their balance sheets and profit and loss accounts (financial statements) for the year ended March 31, 2011, onward using an eXtensible Business Reporting Language (XBRL) format. This circular is a significant step for the country’s move towards […]