RBI launched new CIMS portal, Banks will have to report now on this portal

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RBI Governor Shaktikanta Das announced that banks will soon be required to report on the newly launched Centralized Information Management System (CIMS) of the Reserve Bank of India. The CIMS aims to enhance regulatory supervision, monitoring, and enforcement. Initially, the system will be implemented for reporting by banks, with a gradual extension to urban cooperative banks and non-banking financial companies. Governor Das emphasized that the CIMS represents a significant shift in the information management framework, enabling efficient handling of massive data flow, aggregation, analysis, public dissemination, and data governance.

Speaking at a conference on the 17th Statistics Day, Governor Das highlighted that the CIMS utilizes state-of-the-art technology to manage big data. It will serve as a comprehensive platform for power users to perform data mining, text mining, visual analytics, and advanced statistical analysis, integrating data from various domains such as financial, external, fiscal, corporate, and real sectors, as well as prices.

Governor Das also revealed that the first weekly statistical supplement (WSS), containing RBI’s weekly data release on its operations and developments in banking and financial markets, has been compiled and processed in the CIMS for the week ending June 23. The new system will enable wider dissemination of data for public use and support online statistical analysis by external users. Regulated entities will have access to their historical data and receive assessments on quality parameters within the CIMS.

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The RBI had previously established the Central Database Management System (CDBMS) as its first enterprise-wide data warehouse in 2002, which was initially accessible to internal users. Subsequently, a significant portion of this data system was made available to the public as the ‘Database on Indian Economy (DBIE)’ portal in November 2004. Over time, the DBIE has transformed from a basic data repository to an advanced information processing and management system, serving as the RBI’s primary platform for data dissemination.

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