RBI plans to share data on NBFCs with credit bureaus

The Nachiket Mor Committee has recommended that Reserve Bank should constitute a working group involving the various stake holders such as TRAI, CERC and CICs to develop a framework for sharing of data between telecom companies, electrical utilities, and credit information companies. “The underlying Acts, rules and regulations governing credit information companies, electric and telecom sectors need to be examined to make suitable legislative and regulatory changes for this purpose,” he said at a Cibil conference.

While the CICs have a rich database in respect of consumer segment — retail borrowers — they have largely neglected the corporates including MSME borrowers, he said.

RBI Dy Guv backs govt’s recap move

MUMBAI: The RBI has backed the government move to selectively allot capital to only nine of the 27 public sector lenders.

“The communication that has been sent by the government to all the banks is that they have to improve their profitability and efficiency. So to send the message, the Centre has taken the decision to reward banks which have better figures so that they’ll get more capital,” RBI Deputy Governor R Gandhi said. ENS