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New AOC forms and MCA filing deadline extension

22 Sep, 2016  Posted By Balaji M   Posted in MCA
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The Ministry of Corporate Affairs (MCA) has indicated their plan to revise AOC – 4 (XBRL) and AOC-4 (CFS) forms following the revision of AOC-4 form. The major amendment will be the inclusion of mandatory Corporate Social Responsibility (CSR) and … Continue reading

 

Technology for Micro Finance Institutions – Strategic Advantages

20 Jul, 2016  Posted By Pramodh Vittal   Posted in Finance

Based on a report by  CRISIL on the top 25 Micro Finance Institutions (MFIs) in India in 2015, the critical points of impact for the MFIs have been identified as the following: Increasing profitability Reduction in Operating expenses Improvement in … Continue reading

 

Importance of XBRL Implementation

20 Jul, 2016  Posted By admin   Posted in xbrl

XBRL (eXtensible Business Reporting Language), as we all know it, is a globally accepted standard for exchanging business information. From the Regulator’s perspective, it is an interactive data format as against  the merely readable formats like HTML, PDF etc., that … Continue reading

 

Digital financial services industry set to reach 15K crore by 2020

20 Jul, 2016  Posted By Getsy Jenita J   Posted in Finance

The average mobile phone user makes at least one financial transaction using their smartphone in a week. Convenience has taken precedence in today’s fast-paced life, even if it comes with a fee. From utility bills, fund transfers, movie bookings to … Continue reading

 

RBI eases compliance reporting norms for banks

14 Jul, 2016  Posted By Rajesh Krishnaswamy   Posted in RBI
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The financial scandals of the late 90s and early 2000s resulted in Reserve Bank of India (RBI) mandates to the various banks in India to submit regulatory reports primarily to prevent and deter frauds and money laundering. Today most of … Continue reading

 

XBRL Sustainable reporting brings accountability and transparency

04 Jul, 2016  Posted By Getsy Jenita J   Posted in xbrl
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The flow of information from one point to another is important to keep the ecosystem intact, especially in the financial world. Regulators need it to regulate the enterprises; investors need it to analyze the enterprise’s performance and take an investment … Continue reading

 

‘Digital India’ to improve compliance reporting in India

21 Mar, 2016  Posted By Getsy Jenita J   Posted in xbrl

eGovernance has always been the dream for India, especially now with Prime Minister Narendra Modi’s visionary programme ‘Digital India’. It aims to transform India into a digitally empowered society and knowledge economy. Digital India’s slogan is ‘Power To Empower’, promising … Continue reading

 

RBI recognized for XBRL reporting initiative by XBRL International

02 Feb, 2016  Posted By Getsy Jenita J   Posted in RBI
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The Reserve Bank of India (RBI), the regulator and supervisor of the financial system in the country, has been awarded the XBRL International Award for Excellence by XBRL International, the global custodian of the eXtensible Business Reporting Language (XBRL), in … Continue reading

 

RBI shares their experience of XBRL implementation

11 Dec, 2015  Posted By Getsy Jenita J   Posted in RBI
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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, … Continue reading

 

BSE’s second step towards a greener world by shifting to digital reporting

16 Nov, 2015  Posted By Rohan Shirdhankar   Posted in BSE
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Bombay Stock Exchange (BSE), the most popular stock exchange in the country, has moved to XBRL based e-filings of financial results for the companies listed on the Exchange. This is the second initiative that has been taken by BSE, as … Continue reading