Classic Loader
Reserve Bank of India's vision is that Banks should submit all statutory returns through electronic format; mostly in XBRL format which is accepted as a world standard. RBI has initiated steps to achieve this goal though introduction of Automatic Data Flow project and submission of a number of reports in XBRL format.
To facilitate Banks, RBI is now providing a macro enabled excel file in which data has to be manually entered and after all data entry the macros will do the validations and create the XBRL instance document. However, in future RBI wants that Banks should create their own tools to create XBRL instance document. RBI will provide the validation rules and taxonomy.
Role of ClassicLoader
ClassicLoader creates the XBRL instance document for those reports for which the taxonomy and validation rules are provided. In case of other reports, ClassicLoader transfers data to the Macro enabled excel file from the source which can be one or more excel/xml files or from the database, thereby avoiding the tedious manual data entry. Apart from this, Banks have to submit various returns through two other channels (OSMOS and ORFS) to Reserve Bank of India periodically. Since there is no upload facility to these channels, the Banks have to do manual data entry. ClassicLoader transfers the source data available in excel / word / xml file to the respective channels, thereby avoiding a lot of time, errors in data entry and second round of checking by the Bank officials.
- BNP Paribas
- Societe Generale
- Credit Suisse
- ICICI Bank
- Bank Of America
- Barclays Bank
- ANZ Bank