RBI pledges to create public credit register
Existing system is fragmented, making it hard to accurately assess a borrower’s credit history
The Reserve Bank of India has committed to creating a public credit register (PCR), which will for the first time centralise the complex machinery of India’s credit information systems.
Deputy governor Viral Acharya revealed the decision during the RBI’s monetary policy press conference today (June 6). He called a public credit registry “one of the important ingredients” to improve the ease of doing business in the country.
Following Acharya’s announcement, the RBI published the report of its
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