RBI revises the proforma and reporting of bank or branch details under the Central Information System for Banking Infrastructure (CISBI)

Oct 14, 2019 | by Avantis RegTech Legal Research Team


The Reserve Bank of India (RBI) on October 11, 2019 has issued a circular on revision in proforma and reporting of bank or branch details under the Central Information System for Banking Infrastructure (CISBI).

RBI has replaced the existing system of email-based reporting at the branches to a web-based central system which makes use of CISBI an online portal that allots Basic Statistical Return (BSR) code to branches and offices of all banks for the purpose of branch licensing and financial policies and for requisite coverage of additional dimensions or features. 

Under the new system, all cooperative banks are required to submit their information in a single proforma online on the CISBI portal, as compared with the earlier system of submitting separate documents with information about daily business activity at the bank through e-mail and are require to submit the information relating to opening, closure, merger, shifting and conversion of bank branches or offices or Non Administratively Independent Offices (NAIOs) or Customer Service Points (CSPs) online through CISBI portal immediately and in any case not later than one week.

CISBI also has a provision to maintain complete bank level details (e.g. bank category, bank-group, bank code, type of license issued, registration details, area of operation, addresses of offices, contact details of senior officials, etc.) and history of all the changes with time stamp. Any subsequent changes in the bank level information shall be submitted for updation on the CISBI portal on immediate basis by the banks.

[RBI/2019-20/81 (DCBR.BPD. (PCB/RCB).Cir.No.04/07.01.000/2019-20)]

 


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.