NEWS – CIMS is a comprehensive data platform developed by the Reserve Bank of India (RBI) to streamline data collection, storage, analysis, and reporting from regulated financial entities.

HIGHLIGHTS

Purpose of CIMS

• Centralized Portal: Enables regulated entities (REs) to report details of their digital lending apps (DLAs).
• Data Management: Designed to manage massive data flows from diverse financial and economic domains.
• Advanced Analytics: Facilitates high-level data analysis and visualization for informed decision-making by the RBI.

Key Features of CIMS

• State-of-the-art Technology: Employs big data tools for aggregation, text mining, data mining, and statistical analysis.
• Multi-domain Integration: Connects data from financial, fiscal, external, corporate, real sectors, and price indicators.
• Cloud-based Submission: Allows REs to submit regulatory data electronically and securely.

Benefits of CIMS

1. For the Reserve Bank of India:
   • Enhanced Monitoring: Improves RBI’s ability to oversee the financial system.
   • Timely Decision-Making: Enables quicker responses to emerging risks or anomalies.
   • Better Data Quality: Ensures higher accuracy and consistency in regulatory submissions.
2. For Regulated Entities (REs):
   • Simplified Reporting: Reduces redundancy and manual workload.
   • Improved Communication: Streamlines interactions between the RBI and financial institutions.
   • Compliance Support: Facilitates easier adherence to regulatory requirements.

Implementation Requirement

• Mandatory Reporting: All regulated entities are now required to use the CIMS portal for submitting information on digital lending applications.