Leading stock exchanges BSE and NSE on Monday announced that they have taken measures for standardising the disclosures made by listed companies pertaining to the critical information for investors.

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Listed firms are required to submit periodical compliance filings to stock exchanges within the prescribed timelines.

Under the measures, stock exchanges have implemented new XBRL-based compliance filing mechanism featuring identical and homogenous compliance data structures.

The move will not only ease the compliance burden on listed entities but would also enable analytics on the data submitted by them, BSE and NSE said in a joint statement.

XBRL-based filings for equity, debt, Real Estate Infrastructure Trust (REIT), Infrastructure Investment Trust (InvIT) have been released by both the exchanges to facilitate the input of the critical clauses of Sebi's LODR (Listing Obligations and Disclosure Requirements) Regulations.

"We believe that these steps shall enhance the transparency and efficiency of corporate information for the investors," the exchanges said.

Listed companies will be required to file information on investors grievance, shareholding pattern, corporate governance, financial results, annual report, business responsibility and sustainability reporting, voting result, insider trading and related party transactions, among others in XBRL format.

This came after Sebi Market Data Advisory Committee (MDAC) deliberated that XBRL would be implemented for all corporate filings. The committee recommends policy measures in areas such as securities market data standardisation, access, and privacy.

Earlier, listed entities were mandated to report XBRL-based filings for financials from 2015 onwards.