RBI: Public Credit Registry

Sushubh

Administrator
[OP]
Oct 29, 2004
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PCR: RBI Kick-Starts Process To Set Up Public Credit Registry For Capturing Details Of Borrowers

The Reserve Bank has initiated steps to set up a digital Public Credit Registry to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.

The PCR will also include data from entities like Securities and Exchange Board of India, the corporate affairs ministry, Goods and Service Tax Network and the Insolvency and Bankruptcy Board of India to enable banks and financial institutions to get 360-degree profile of existing and prospective borrowers on a real-time basis.

The Reserve Bank has invited expression of interest for developing the registry from companies with a turnover of over Rs 100 crore in the last three years.