What changed
RBI is replacing the existing email-based NRD-CSR reporting system (using a DAT file from RBI-provided software) with an XBRL platform. Banks will now submit consolidated monthly data as an XML instance document via RBI's online portal, with enhanced validations and security. The switch-over is effective from October 1, 2013, and the first XBRL submission for October 2013 is due by November 10, 2013.
What it means for you
Banks must upgrade their reporting systems to generate XBRL-compliant instance documents, either using RBI's template or their own XBRL tools. This move improves data quality, reduces manual errors, and streamlines tracking. Banks need to ensure their nodal offices are ready for the new platform by the go-live date, as legacy software support will cease.
What you must do
- Obtain user credentials and bank code from RBI for the XBRL test environment and production portal.
- Test NRD-CSR data submission on the RBI test site (https://125.18.33.234/orfsxbrl/customer/index.jsp) before October 1, 2013.
- Train officers and software personnel on XBRL-based NRD-CSR submission, as RBI will provide separate training.
- Generate XBRL instance documents for October 2013 data and submit via RBI's portal by November 10, 2013.
- Continue email-based reporting for data up to September 2013; discontinue use of legacy NRD-CSR software v3.0 after go-live.
Who it affects
All banks authorized to deal in foreign exchange, Nodal offices of banks maintaining Non-Resident Deposit accounts, IT and reporting teams handling NRD-CSR data submission
What is the deadline for the first XBRL-based NRD-CSR submission?
The first XBRL submission is for October 2013 data, due on or before November 10, 2013. Email-based reporting continues for data up to September 2013.
Can banks use their own software for XBRL submission?
Yes, banks can use any publicly available XBRL tool or generate instance documents from their internal systems, as long as they follow RBI's prescribed format and validations.
What happens if we face issues with the new XBRL system?
Banks can request assistance via email to RBI's DSIM, CO. RBI has also enabled a test environment and will provide training before the go-live date.