📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    In the context of the Reserve Bank of India’s

    initiatives, what does CRILC stand for?
    A Central Repository of Information on Large Credits Correct Answer Incorrect Answer
    B Central Regulation of Investments and Lending Companies Correct Answer Incorrect Answer
    C Credit Reporting Information on Large Corporates Correct Answer Incorrect Answer
    D Central Repository of Income from Large Credits Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Central Repository of Information on Large Credits (CRILC) was established by the Reserve Bank of India in 2014 to improve transparency in the credit system. Its main objectives are: • To collect, store, and disseminate credit-related data on large borrowers. • Banks and financial institutions must report details of borrowers having aggregate fund-based and non-fund-based exposures of ₹5 crore (₹50 million) and above. • Banks also need to report the Special Mention Account (SMA) status of such borrowers to CRILC. This system helps RBI in monitoring large exposures and mitigating risks of financial instability.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    ask-question