Track: Regulator Session Code: REG8 XBRL Regulatory Initiatives in Indian Securities Market

1. 21st XBRL International Conference“One Language, Common Vision: Role of XBRL Technology in the Post Crisis Era19-21 October 2010Beijing, China Track: Regulator Session Code: REG8 XBRL Regulatory Initiatives in Indian Securities Market • Ms. Neelam Bhardwaj • General Manager, Securities and Exchange Board of India • October 20, 2010

2. Presentation Flow • Indian Securities Market • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

3. Presentation Flow • Indian Securities Market • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

4. Indian Securities Market • Disclosure based regime • Active Primary and Secondary market • Increasing number of market entities • 4996 listed companies • 25 stock exchanges • 26, 176 intermediaries • 1, 730 registered Foreign Institutional Investors • Information driven investment

5. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

6. Regulatory Landscape Ministry of Corporate Affairs Reserve Bank of India Securities and Exchange Board of India All Companies All Banking Institutions • All market participants and market intermediaries including • Stock Exchanges • Mutual Funds • Listed Companies • Brokers • FIIs • Depositories Listed Unlisted Listed Unlisted 6

7. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

8. Past Initiative in E – Filing • SEBI EDIFAR launched in 2002 • EDIFAR - “Electronic Data Information Filing and Retrieval” • No cost for users for filing and retrieval • Filing by more than 2500 listed companies

9. Past Initiative in E – Filing • Four Major reports – • Shareholding pattern • Quarterly Financials results, • Substantial Acquisition of Shares & Takeovers • Annual Report • Discontinued from March 31, 2010

10. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

11. XBRL India • Provisional jurisdiction of XBRL International – December 2008. • Facilitated by the Institute of Chartered Accountants of India (ICAI). • Members includes – • All capital market regulator • Two major Stock Exchanges

12. XBRL India • Published Taxonomy • General Purpose Financial Reporting for Commercial and Industrial Companies • XBRL Banking Taxonomy

13. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

14. Indian Progress Report on XBRL India becomes a provisional jurisdiction of XBRL International RBI start migrating existing returns into XBRL Corpfiling : BSE and NSE initiates an XBRL based common filing platform SEBI builds XBRL taxonomy for Mutual Funds 2006 2008 XBRL is Born 2010 2009 ICERS launched – XBRL based filing platform for the Bombay Stock Exchange 1998 ICAI develops XBRL taxonomy based on Indian GAAP (built by IRIS) 2007 Ministry for Company Affairs plans XBRL filing for company annual returns RBI launches XBRL based filing platform for Capital Adequacy Returns (Basel 2) Filing through Corpfiling made mandatory by SEBI

15. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

16. XBRL Initiatives by Stock Exchanges Owns Owns www.corpfiling.co.in • XBRL enabled filing platform • Common dissemination platform • Top 100 companies

17. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

18. XBRL Initiatives by SEBI • Regulatory support to stock exchanges in XBRL initiative • Active Participation in XBRL India • SEBI Unified Platform for Electronic Report – Dissemination (SUPER-D) to be launched • XBRL Technical Advisory Committee (XTAC) • Pilot Project - Mutual Fund • Taxonomy in advanced stage of finalization

19. XBRL for Mutual Funds • Registered Mutual Funds – 48 • Average Assets under management – USD 150 billion • Number of schemes – 907 • Growing investor base

20. Key Features of Mutual Fund Taxonomy • Taxonomy • Reporting requirements • Advanced stages of finalization • Multi-dimensional in nature • XBRL 2.1 compliant

21. Mutual Fund Taxonomy - Statistics

22. Presentation Flow • Indian Securities Markets • Regulatory Landscape • Past initiative in E-filing • XBRL India • Indian progress report in XBRL • XBRL initiatives by Stock Exchanges • XBRL initiatives by SEBI • Road Ahead

23. Road Ahead • Extending scope of XBRL • Collaborating with: • Regulators • Intermediaries • Unified Platform for Filing • Unified Platform for Dissemination • XBRL India as an Established Jurisdiction