BSE extends XBRL mode for listed companies to file their Annual Reports on the Exchange
Mumbai, Monday, 18 February 2019: Continuing its endeavor to offer more ease in doing businesses and to enable filing of compliances in digital format, BSE has adopted the XBRL taxonomy published by the Ministry of Corporate Affairs, Government of India, for filing of Annual Returns by companies which includes the Annual Report.
This requirement will be in addition to the currently available PDF mode, which the companies are required to file with the Exchange along with notice of AGM, for financial year ending March 31, 2019.
The companies, can, if they desire also file their Annual Report submitted to the MCA as part of their Annual Returns for year ended March 31, 2018, in the XBRL mode to get a feel of the ease provided by the BSE Listing Centre.
BSE is well known for adopting state-of-the-art technologies to provide its users and customers a more enriching and satisfying experience. This initiative of BSE will result in digital filing by companies and adoption of MCA taxonomy will lead to more ease of doing businesses, as companies need to simply use the same XBRL file for filing at the Exchange.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in delivery-based futures contract in gold (1 kg) and silver (30 kg).
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
Yatin Padia / Rahul Vyas / Mihir Dani/ Shruti Nitesh
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