India’s NSE Plans XBRL Growth
The Indian National Stock Exchange (NSE) has proposed introducing XBRL for all key corporate announcements.
Currently, the Securities and Exchange Board of India (SEBI) requires listed companies to report their quarterly financials in XBRL format, facilitating data analysis and transparency for investors.
However, while quarterly financials are machine-readable, ad-hoc announcements such as one-time settlements, contracts, or inter-creditor agreements are not, creating a barrier for investors and regulators looking to easily search, analyse and compare complete financial information on a company.
The NSE has proposed extending the success of XBRL-based compliance reporting to these ad-hoc announcements and corporate actions, to make it easier for analysts and investors to see the complete picture of corporate financials. NSE welcomes comments on the proposal from market participants.
From our perspective, the usefulness and comparability of financial information can only be increased by extending machine-readable requirements to cover the full breadth of a company’s financial and sustainability activities.
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