The Reserve Bank of India (RBI) has announced the implementation of its new data system called the Centralized Information Management System (CIMS).
Governor Shaktikanta Das revealed that commercial banks will be the first to integrate their data into this advanced system, followed by urban cooperative banks and non-banking financial companies (NBFCs).
The inauguration of CIMS took place at the RBI headquarters during the 17th Statistics Day Seminar.
Governor Das emphasized that the integration of urban cooperative banks and NBFCs into the CIMS platform will occur gradually.
The initial release of the system’s weekly report focused on the central bank’s operations, as well as developments in the banking and financial markets.
Data for this report was recorded in the CIMS system up until the week ending on June 23.
The newly implemented CIMS system aims to process a larger volume of data for public use.
It will also enable external users to analyze the data online.
In addition, regulated entities will have access to their historical data, allowing them to assess the quality of their information within the CIMS framework.
Governor Das further stated that the new data system will incorporate additional features in the future, including email-based reporting.
The RBI had previously implemented the Centralized Database Management System (CDBMS) in 2002 as its initial data system.
Subsequently, in November 2004, the DBIE portal was introduced, focusing on providing economic information.
Over time, the system evolved into a comprehensive center for managing and processing financial and banking data.
In May 2023, the RBI’s data system, DBIE, received over 250,000 hits.
