What changed
RBI moved the quarterly return on issuance of bank guarantees for trade credits from the XBRL platform to the Centralised Information Management System (CIMS). The return is now assigned code R131 on CIMS. Submission via XBRL will stop effective December 26, 2023.
What it means for you
Banks must now use the CIMS portal for this specific return, aligning with RBI's broader data warehouse migration. This change streamlines reporting but requires banks to ensure their CIMS access and data submission processes are fully operational. Non-compliance could lead to reporting gaps.
What you must do
- Ensure your bank is onboarded and active on the CIMS portal at https://sankalan.rbi.org.in/
- Submit the quarterly return on issuance of bank guarantees for trade credits using return code R131 on CIMS only
- Stop submitting this return on the XBRL platform after December 25, 2023
- Update internal procedures and train relevant staff on CIMS submission workflow
- Notify constituents about the change as required by the circular
Who it affects
AD Category-I banks, Trade credit operations teams, Compliance and reporting departments
What is the new return code for this reporting on CIMS?
The return has been assigned code R131 on the Centralised Information Management System (CIMS).
From which date is XBRL submission discontinued?
Submission of this return through the XBRL site will be discontinued with effect from December 26, 2023.
Which banks are required to comply with this circular?
All Category-I Authorised Dealer banks are required to comply.