YM Deosthalee Committee Report


  • Recently RBI has decided to set up a public credit registry (PCR) in a modular and phased manner to provide a single-point and real-time source for financial liabilities of a person or entity.

RBIs decision is based on the report of the task force which pointed out that credit information is spread over multiple systems in bits and pieces, making it difficult to get a comprehensive view of the financial liabilities of a person or entity.

  1. With a view to removing information asymmetry to foster the level of access to credit, and to strengthen the credit culture in the economy, there is a need to establish a PCR.
  2. The setting up of the PCR will consolidate all financial information about borrowersexists at present in silos and often impacts the time taken to get a loan, as well as the quantum of loan, sanctioned.
  3. A comprehensive credit information repository covering all types of credit facilities (funded and non-funded) extended by all credit institutions – commercial banks, cooperative banks, NBFCs, MFIs.
  4. Also covering borrowings from other sources, including external commercial borrowings and borrowing from market, is essential to ascertain the total indebtedness of a legal or natural person.
  5. It had also suggested that the registry should facilitate linkage to related ancillary credit information available outside the banking system, such as corporate balance sheet information and GSTN, depending on the legal provisions.
  6. However, it had recommended that the registry should NOT include elements of judgment such as credit scoring services and had also called for strict privacy guidelines.


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