Money & Banking

RBI introduces new reporting system for co-operative banks

Our Bureau Mumbai | Updated on October 11, 2019 Published on October 11, 2019

The Reserve Bank of India has introduced a new reporting system – the Central Information System for Banking Infrastructure (CISBI) – for all co-operative banks.

Under this system, these banks are required to submit information pertaining to opening/closing/ conversion of branches, offices, non-administratively independent offices (extension counters, satellite offices), and customer service points (ATMs) in a single proforma online on the CISBI portal.

All co-operative banks should submit immediately and in any case not later than one week the information relating to opening, closure, merger, shifting and conversion of bank branches/offices/NAIOs/CSPs online through the CISBI portal, the central bank said in a circular.

To ensure correctness of data on the CISBI, in the last week of every month, banks have to generate a ‘nil report’ in the CISBI for position as on last day of the previous month, indicating the total number of functioning branches, offices, NAIOs, CSPs, and submit it through the CISBI after authenticating its correctness. Banks can also use the facility to access/download the data related to them.

The CISBI replaces the legacy master office file system. The new reporting system is applicable to urban co-operative banks, State co-operative banks and district central co-operative banks.

Published on October 11, 2019
RBI and other central banks
cooperative banks
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