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 […]
India’s largest exchange, the BSE (formerly the Bombay Stock Exchange) continues to shift from legacy formats to XBRL. Starting from July 1, 2017, all listed entities with the BSE will be required to make their reconciliation of share capital audit report in XBRL format. The Exchange provides an Excel utility to assist, but can also […]
India’s largest stock exchange has moved to require Earnings Releases in XBRL format. Provision of earnings data in structured, consumable and comparable form is exactly what analysts and investors need.
The Integrated Reporting consortium reports this week that IFAC has issued a strong statement of support for the <IR> methodology and that SEBI, the Indian corporate regulator, has announced that the largest 500 companies in that country are encouraged to issue Integrated Reports in order to meet their new mandatory Business Responsibility Report (BRR) requirements. Integrated Reporting […]
BSE, the largest stock exchange in India, has been using XBRL to help improve the accuracy and utility of filings about corporate voting results for the past two years. On 18 January, the BSE announced that this move is now permanent and mandatory for all such filings that occur after 31 January 2017. Rather than […]
The four major regulators in India involved in the adoption of XBRL are the Reserve Bank of India, the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority (IRDA). XBRL is also used by the BSE (formerly the Bombay Stock Exchange) and even by the state […]