RBI sets up task force on public credit registry

The Reserve Bank on Monday said it has set up a high-level task force on a Public Credit Registry for India with an aim to improve ease of doing business and control delinquencies.

The 10-member panel headed by Y M Deosthalee, former CMD of L&T Finance Holdings, will review the current availability of information on credit in India. In a statement, the RBI said it has been under its active consideration to set up a transparent and comprehensive public credit registry (PCR), an extensive data base of credit information that is accessible to all stakeholders.

The PCR would “help in enhancing efficiency of the credit market, increase financial inclusion, improve ease of doing business and help control delinquencies,” the release said.

The panel has been also asked to assess gaps in availability of information.