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Digital Public Credit Registry
November 7 , 2018
2237 days
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- The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers.
- The details will include wilful defaulters and pending legal suits.
- Aim of the move is to check financial delinquencies.
- The PCR will also include data from:
- Entities like market regulator SEBI,
- Union corporate affairs ministry,
- Goods and Service Tax Network (GSTN) and
- Insolvency and Bankruptcy Board of India (IBBI).
- This will enable banks and financial institutions to get a complete profile of existing and prospective borrowers on a real-time basis.
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