Reserve Bank of India Releases Private Company Data
The RBI website now has aggregate data drawn from the 2013-2014 audited annual accounts of more than 250,000 Non-Government Non-Financial (NGNF) Private Limited Companies. This data was collected by the Ministry of Corporate Affairs (MCA) largely in XBRL and provides a comparative picture over the last three financial years. The RBI also released a series of findings based on their analysis of sales and operating expenses, profit margins, net assets, as well as equity and borrowing. The NGNF includes sectors such as manufacturing and services.
Our take? Pulling together comprehensive national statistics drawn from company financial statements is something that many leading regulators can now realistically and accurately achieve, thanks to XBRL. Publishing financial statement data about individual companies drawn from that data creates new ways to build trust within an economy.