India’s Ministry of Corporate Affairs (MCA) is considering requiring large unlisted entities to file financial statements more frequently.
The Securities and Exchange Board of India (SEBI) is conducting a consultation into widening their environmental, social, and governance (ESG) disclosures with a new mandatory report.
The coronavirus pandemic has prompted an unprecedented shift to digital across the world – from the rise of remote working to teleconferencing improvements and an emphasis on digital operations – and now, in India, a long-desired switch from currency to cards.
During this time of deep digital reliance, the Institute of Chartered Accountants of India (ICAI) has announced a policy change meaning that electronic signatures are permitted in order to sign audit reports and certificates for the first time. The ICAI announcement draws on the 2000 IT Act, concluding that the Act allows for electronic signatures […]
Congratulations to CA. Atul Kumar Gupta, Vice Chairman of the Board of XBRL India, who has been elected as President of The Institute of Chartered Accountants of India (ICAI). CA. Gupta is widely appreciated for his key contribution to the new Goods and Service Tax regime in India. He has also chaired the SAFA Committee on […]
As part of a number of regulatory requirements established in recent months, this week the Reserve Bank of India (RBI) mandated regular XBRL reporting for urban co-operative banks (UCBs). UCBs are co-operatively owned, usually formed around communities or small groups with a common interest and used to finance small businesses within that community. They have […]
The Reserve Bank of India (RBI) have released their annual report, detailing several supervisory measures that are underway to strengthen India’s banking system. The aim is to improve India’s credit risk and financial performance, and to increase the flow of credit to productive sectors of the economy. Included in these measures are draft guidelines on […]
Bombay Stock Exchange (BSE) adopted the XBRL standard for all Annual Report filings on 18 February, making company data digital and searchable. Bloomberg announced this week that it has on-boarded XBRL data from the BSE, giving a boost to business analysis on Indian BSE listed equities.
Standardised reporting can be beneficial not just for the submission of information to a given institution but can also be pivotal in the seamless transfer of data between financial market authorities. This is exactly what is now taking place in India. In order to enable easier filings and to make reporting by listed entities to […]
The Reserve Bank of India (RBI) has banned regulated banks and their customers from dealing in cryptocurrencies. In an April 6 statement, the central bank announced that its regulated entities may not deal with or provide services to any individual or business dealing with or settling virtual currencies. Moreover any bank currently in a trading […]