XBRL is an open source royalty-free XML ( eXtensible Markup Language ) based information reporting standard. RBI in India has adopted this standard. This could be adopted with benefit in Digital India initiative.

XBRL moves the world from document management to information management. It satisfies the final objective of getting clean data. With XBRL, the data is focussed upon and not the document. The document, of course, would be scanned but instead of images moving back and forth, it is data that gets transorted for verification. The data could be shared seamlessly across the departments. The data can be checked electronically, making manual checking unnecessary.