RBI shares their experience of XBRL implementation

RBI shares their experience of XBRL implementation

Reserve Bank of India, the apex financial institution of the country had implemented data collection in standardised format since 2008 as a part of their regulatory and supervisory function. The data which is collected from the commercial banks, financial institutions, authorized foreign exchange dealers and non-banking financial institutions is in XBRL format and is called “Return”. RBI rolled out the implementation in phases since 2008, wherein Phase I covered 7 returns, Phase II which started […]

Journey of XBRL Reporting in India

The XBRL wave started in India in late 2007 when the Institute of Chartered Accounts of India, the premier accounting and statutory body, realised the critical role of Digital Business Reporting in the arena of regulatory reporting and the optimum advantage that it enjoyed in levelling the playing field. ICAI initiated the idea of using XBRL in collaboration with the different regulators in India that control the Registered companies, Banks, Insurance undertakings and Listed companies. […]