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The Reserve Bank of India (RBI) today formed a 10-member high level task force to review and determine the scope of a Public Credit Registry (PCR), an extensive database to enhance the efficiency of credit market in India and help control delinquencies. The move is aimed, among other things, at increasing efficiency of the credit market and reduce defaults.
Head of the Task Force : YM Deosthalee (Ex-CMD, L&T Finance Holdings)
Members :
- Sekar Karnam, DMD & Chief Credit Officer, SBI
- Vishaka Mulye, ED, ICICI Bank
- Rashesh Shah, Chairman and CEO, Edelweiss Group
- Sriram Kalyanaraman, MD and CEO, National Housing Bank
- Bidisha Ganguly, Chief Economist, CII Member
- Sharad Sharma, Co-founder and CEO, BrandSigma, iSPIRT Member
- Vivek Srivastava, Sr. VP - Research and Innovation, ReBIT Member
- Parvathy V. Sundaram, CGM-in-Charge, DBS, RBI Member
- Anujit Mitra, Director, DSIM, RBI Member Secretary
The panel will be responsible for reviewing the current availability of credit information in India, assess gaps that could be filled by PCR, study international practices, decide a structure and suggest a roadmap a transparent and near real-time PCR for India.
The terms of reference of the task force :
- To review the current availability of information on credit in India.
- To assess the gaps in India that could be filled by a comprehensive PCR.
- To study the best international practices on PCR.
- To determine the scope / target of the comprehensive PCR: type of information to be covered along with cut-off size of credit, if any.
- To decide the structure of the new information system or whether the existing systems can be strengthened / integrated to get a comprehensive PCR.
- To suggest a roadmap, including the priority areas, for developing a transparent, comprehensive and near-real-time PCR for India.
The task force will submit its report by 4 April 2018.
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