The Reserve Bank of India has initiated the process to

Solution

The Reserve Bank of India has initiated the process to set up a digital Public Credit Registry (PCR) to capture all the details of borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The public credit registry will also include data from entities like market regulator SEBI, the corporate affairs ministry, Goods and Service Tax Network and the Insolvency and Bankruptcy Board of India to enable the banks and financial institutions to get a 360-degree profile of existing and prospective borrowers on a real-time basis.