Reserve Bank of India: Reserve Bank of India (RBI) Governor Shaktikanta Das said that the first commercial banks will start sending their data on the Central Bank’s new data system CIMS. After this, urban cooperative banks and then NBFC companies will also become part of it.
Inaugurating the ‘Centralized Information Management System’ (CIMS) at the 17th Statistics Day Seminar held at the RBI headquarters, Das said that commercial banks will start sending information on this next generation data system of RBI.
The RBI governor said that gradually Urban Co-operative Banks (USB) and Non-Banking Financial Companies (NBFCs) will also start registering their data on this system. The RBI governor said that the first weekly report to be released after the activation of CIMS focused on the central bank’s own operations and developments in the banking and financial markets. Its figures were recorded in this system till the week ended on 23 June.
He said the new system would process more data for public use. Apart from this, external users will also be able to analyze its data online. With this, the regulated units will also have access to their past data and will be able to assess the same on quality parameters in CIMS. Das said that some more new facilities will also be added to the new data system in the future. It also includes the facility of email-based reporting.
RBI had adopted CDBMS in the year 2002 as its first data system. Then in November 2004, a large part of the information focused on the economy was also put on the DBIE portal. With the passage of time, this system turned into an intensive management and processing center of financial and banking data. RBI’s data system DBIE received more than 2.5 lakh hits in May 2023.
