The PCR is intended to be a database containing information on all loan contracts in the country, including their history, purpose, and performance. This is expected to help banks and other financial institutions in credit assessment and also improve transparency in the credit market.
The Reserve Bank of India has recently constituted a high-level task force on Public Credit Registry (PCR) to suggest a road map for developing a transparent, comprehensive and near- real-time PCR for India. The task force is headed by
Asked in UPSC CDS 1 2018 · Topic: Money & Banking (Banking Sector Reforms: Basel Norms, Asset Quality Review (AQR), and NPA Management)
More Economic Development questions
- The Insolvency and Bankruptcy Board of India (IBBI) was established in the year
- Consider the following statements regarding Advisory Board for Banking and Financial Frauds (ABBFF). 1. It has been constituted by RBI. 2. It conducts first level examination of all bank fraud cases. 3. It periodically carry out frauds analysis in the financial system and give inputs for any policy formulation related to the frauds. Which of the above statements is/are correct?
- An upsurge has been seen in the NPAs (non- performing assets) of public sector banks recently. Select the correct factors responsible for it. Lower economic growth in the country Aggressive lending by banks in the past, especially during good times Lack of right loan recovery legal provisions Banks switching over to a system based identification of NPAs
- To reduce the Non-Performing Assets, Government of India followed 4R strategy, the 4Rs Indicate __________.
- Under the provisions of the Banking Regulation Act, 1949 RBI can 1. Issue directions to banks for resolution of stressed assets 2. Examine on oath any director or other officer of the bank 3. Prohibit banks against entering into any particular transaction Which of the above statements is/are correct?
- What was the Narasimhan Committee 1991 related to ?
- Consider the following statements regarding the Non-Performing Asset : It is a loan or an advance where interest and/or instalment of principal remain overdue for a period of more than 90 days in respect of a Term Loan. the instalment of principal or interest thereon remains overdue for two crop seasons for short duration crops. the bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted. Which of the above statements is/are correct ?
- Which of the following is not associated with financial sector reforms in India initiated after 1991 ?