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