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Effectivness of the Adoption of the XBRL Standard in the Indian Banking Sector

Author

Listed:
  • Purnendu Kumar

    (Reserve Bank of India, Mumbai, India)

  • S. Sujeesh Kumar

    (Reserve Bank of India, Mumbai, India)

  • Archana Dilip

    (Reserve Bank of India, Mumbai, India)

Abstract

The XBRL standard was adopted by the Reserve Bank of India (RBI) in the year 2008 as a standard by which the banks that are regulated by the RBI submit regulatory, prudential, supervisory, and other statistical data. This study focuses on estimating the effectiveness of the adoption of the XBRL standard in the Indian banking sector. The effectiveness has been studied on the basis of the responses received on the survey conducted targeting the commercial banks of India. Two important factors, namely, ‘Effectiveness of the XBRL Data Submission’ and ‘Savings of Time and Cost’ have been considered mainly for the study. The study revealed that the overall efficiency of the reporting system in the Indian banking sector has increased to a great extent with the adoption of the XBRL standard. Although the overall effectiveness of XBRL adoption has been found to be satisfactory, there is always room for further enhancement of the system in order to achieve complete effectiveness.

Suggested Citation

  • Purnendu Kumar & S. Sujeesh Kumar & Archana Dilip, 2019. "Effectivness of the Adoption of the XBRL Standard in the Indian Banking Sector," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 8(1), pages 39-52.
    • Handle: RePEc:cbk:journl:v:8:y:2019:i:1:p:39-52
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    File URL: http://www.cbcg.me/repec/cbk/journl/vol8no1-2.pdf
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    Cited by:

    1. Sharifah Milda Amirul & Noor Ismawati Jaafar & Anna Azriati Che Azmi, 2022. "Two decades of XBRL: a science mapping of research trends and future research agenda," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(4), pages 2301-2324, August.

    More about this item

    Keywords

    XBRL; ADF; Technology; Effectiveness; Survey etc.;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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