RBI allows banks to submit statutory returns on ‘unclaimed deposits’ via CIMS Portal
Editorial Note : As per RBI (Cash Reserve Ratio and Statutory Liquidity Ratio) Directions, 2021, banks submit statutory returns (i.e. Form A, Form VIII and Form IX on unclaimed deposits) in an electronic form on the XBRL Portal. With the launch of the Centralized Information Management System (CIMS), the RBI has decided to shift the submission of statutory returns from the XBRL Portal to the CIMS Portal. Further, banks must continue to submit Form A and Form VIII on both XBRL and CIMS portals concurrently.