Banks to report on RBI’s new CIMS
2 min read 30 Jun 2023, 10:57 PM ISTDas said that the first weekly statistical supplement (WSS), which is the RBI’s weekly data release on its own operations and developments in banking and financial markets, has been compiled and processed in the CIMS for the week ended 23 June.
PremiumMumbai: Banks will soon be required to report on the Reserve Bank of India’s Centralized Information Management System (CIMS), RBI governor Shaktikanta Das said on Friday as he launched the system.
He said CIMS will improve regulatory supervision, monitoring, and enforcement. As the new system is implemented, it will be gradually extended to urban cooperative banks and non-banking financial companies.
“With today’s launch of CIMS, we embark on a major change in our information management framework for handling the massive data flow, aggregation, analysis, public dissemination and data governance," Das said.
He was addressing a conference on the occasion of the 17th Statistics Day, which marks the birth anniversary of Prasanta Chandra Mahalanobis, often referred to as the ‘father of Indian statistics’.
“This system uses state-of-the-art technology to manage big data and will serve as a platform for power users to carry out data mining, text mining, visual analytics and advanced statistical analysis connecting data from multiple domains, such as, financial, external, fiscal, corporate and real sectors as well as prices."
Das also said that the first weekly statistical supplement (WSS), which is the RBI’s weekly data release on its own operations and developments in banking and financial markets, has been compiled and processed in the CIMS for the week ended 23 June.
The new system will disseminate more data for public use and will also support on-line statistical analysis by external users at their end. Regulated entities will also have access to their past data and their assessment on quality parameters in the new system, added Das.
RBI established its first enterprise-wide data warehouse – the Central Database Management System (CDBMS) – which was accessible to its internal users since 2002.
A large part of this data system was placed in the public domain as the ‘Database on Indian Economy (DBIE)’ portal in November 2004.
Over the years, DBIE has evolved from a simple data repository to an information processing and management system, which has also become RBI’s data dissemination platform.
