RBI forms task force on public credit registry

The Reserve Bank of India has formed a 10-member task force as it plans to build a comprehensive public credit registry to improve market efficiency.

The task force will be headed by M Deosthalee, former chairman of L&T Finance Holdings.

RBI said that database would help enhancing credit market efficiency, boosting financial inclusion, improving ease of doing business and helping control delinquencies.

Than task force where ICICI Bank's executive director Vishaka Mulye, National Housing Bank's managing director Sriram Kalyanaraman are members, would review the current availability of information on credit in India, assess the gaps that could be filled by a comprehensive registry and study best international practices.

RBI said the panel would have to submit its report by April 4, 2018.