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National News

Nov 04, 2018
8:33PM

RBI starts process to set up Public Credit Registry for capturing borrowers' details

File Pic: PTI
The Reserve Bank has initiated setting 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 Reserve Bank has invited expression of interest for developing the registry from companies with a turnover of over 100 crore rupees in the last three years.
   
The Public Credit Registry 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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