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Exposure Draft of XBRL Banking Taxonomy

Posted on 19 November 2009,    
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XBRL (eXtensible Business Reporting Language) is an electronic format for communication of business and financial data which is revolutionising business reporting around the world. XBRL is one of a family of "XML" languages which is becoming a standard means of communicating information between businesses and on the internet. XBRL provides major benefits in the preparation, analysis and communication of business information.

While many countries are already benefiting from the use of XBRL, India too is not far behind. In 2007, ICAI had constituted a Group comprising, amongst others, various regulatory bodies viz. SEBI, RBI, IRDA, NSE, BSE etc. for undertaking the development and promotion of XBRL in India. Further, in December 2008, spearheaded by the Institute of Chartered Accountants of India (ICAI), the Indian XBRL Jurisdiction, i.e., XBRL India has been constituted to support the objective of development and promotion of XBRL through development of taxonomies, facilitation of education and training on XBRL etc. in India.

With the continued efforts, the Steering Committee of Indian XBRL Jurisdiction has recently finalized XBRL banking taxonomy. This taxonomy covers the financial statements, viz., Balance Sheet, Statement of Income, Cash Flow Statement, accounting policies and disclosure requirements. The draft taxonomy has been developed conforming to Indian Accounting Standards, requirements of Clause 41 of Listing Agreement, Banking Regulation Act and other RBI Circulars.

Comments are invited on the XBRL Banking Taxonomy. Comments may be sent by e-mail at, so as to be received not later than December 15, 2009.  Alternatively, comments may be submitted in writing to Dr. Avinash Chander, Director, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi – 110 002.

Indian XBRL Banking taxonomy – A Brief

Download the Draft Banking Taxonomy


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