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    Question

    The Reserve Bank of India has initiated the process to

    set up a digital PCR. What is the full form of PCR?
    A Private Credit Registry Correct Answer Incorrect Answer
    B Public Credit Registry Correct Answer Incorrect Answer
    C Private Credit Ratio Correct Answer Incorrect Answer
    D Public Credit Review Correct Answer Incorrect Answer
    E Public Credit Ratings Correct Answer Incorrect Answer

    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.

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