Committee on Public Credit Registry (PCR)

The Reserve Bank of India has constituted a 10-member ‘High Level Task Force on Phublic Credit Registry (PCR) for India’, which will, among other things, suggest a roadmap for developing a transparent, comprehensive and near-real-time PCR for India.

• The committee was Headed by YM Deosthalee.

The terms of reference of the task force include reviewing the current availability of information on credit in India, assessing the gaps in India that could be filled by a comprehensive PCR, and study the best international practices on PCR.

Public Credit Registry

The PCR is an extensive database of credit information for India that is accessible to all stakeholders. The idea is to capture all relevant information in one large database on the borrower and in particular the borrower’s entire set of borrowing contracts and outcomes. It helps good borrowers in securing credit at lowers costs and also improve access of credit to small and medium enterprises. It keeps records of individuals and firms on repayment history, unpaid debts, or credit outstanding.