Sunday, November 4, 2018

RBI to set up PCR


Image result for public credit registry

Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including willful defaulters and also the pending legal suits in order to check financial delinquencies.

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


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