09 June 2018

RBI to set up public credit registry to curb bad loans

RBI to set up public credit registry to curb bad loans


In a bid to check loan defaults, RBI stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.

Following a report by Yeshwant M Deosthalee headed High-Level Task Force, RBI stated it has considered the recommendations and decided to set up a PCR in a modular and phased manner.

Source- The Hindu Business Line

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