Page 54 - Banking Finance AUGUST 2015
P. 54
RBI CIRCULAR
Revitalising Distressed Assets in the Economy'; issued on 2. Annex I of the format has two parts, Consumer Bureau
January 30, 2014. In terms of these guidelines, RBI has set and Commercial Bureau. It has been decided to create a
up a Central Repository of Information on Large Credits new status value viz; 'Restructured due to Natural Calamity'
(CRILC) to collect, store, and disseminate data on all for the fields 'Written Off and Settled Status" in the
borrowers' credit exposures. Banks/Financial Institutions are Consumer Bureau and 'Major reasons for restructuring' in
required to report information to CRILC as advised vide the Commercial Bureau. This modification is intended to
circular DBS.OSMOS.No.14703/33.01.001/2013-14 dated enable banks/FIs to report to CICs restructured/rescheduled
May 22, 2014. agricultural loans on account of any declared natural
calamities. The 'Guidelines for Relief Measures by Banks in
3. Keeping in view the importance of credit discipline, Areas affected by Natural Calamities' are contained in RBI's
especially for reduction in NPA level in banks, banks are circular FIDD.No.FSD.BC.52/05.10.001/2014-15 dated
advised to make use of the information available in CRILC March 25, 2015. Such reporting would help banks to know
and not limit their due diligence to seeking NOC from the if any earlier loans availed by the farmers were restructured
bank with whom the customer is supposed to be enjoying due to natural calamities.
the credit facilities as per his declaration. Banks should verify
from the data available in CRILC database whether the 3. Banks/FIs/CICs should make necessary modification to
customer is availing of credit facility from another bank. their systems and commence reporting the above
Further banks may also seek 'No Objection Certificate' from information w.e.f. September 30, 2015.
the drawee bank where the initial deposit to current
account is made by way of a cheque. Yours faithfully
(Rajinder Kumar)
4. As these instructions are aimed at improving credit Chief General Manager
discipline, appropriate penal action will be taken in case of
non-compliance. Requirement for obtaining prior approval
of RBI in cases of acquisition/ transfer of
Yours faithfully, control of Non-Banking Financial Compa-
(Sudha Damodar) nies (NBFCs)
Chief General Manager
RBI/2015-16/122
Data Format for Furnishing of Credit Infor-
mation to Credit Information Companies DNBR (PD) CC.No. 065/03.10.001/2015-16
and other Regulatory Measures
July 09, 2015
RBI/2015-16/120
All Non-Banking Financial Companies (excluding Primary
DBR.No.CID.BC.28 /20.16.056/2015-16 Dealers)
July 9, 2015 Dear Sirs,
1. Please refer to DNBS (PD) CC.No.376/03.10.001/2013-14
All Scheduled Commercial Banks (excluding RRBs) and Notification No. DNBS(PD) 275/GM(AM)-2014 dated
All India Notified Financial Institutions (EXIM, NABARD, May 26, 2014 on the 'Non-Banking Financial Companies
NHB & SIDBI) (Approval of Acquisition or Transfer of Control) Directions,
All Credit Information Companies 2014'. The Reserve Bank has decided to review the above
mentioned directions based on the representations
Dear Sir/Madam received from the industry and the comments received on
1. Please refer to our circular DBOD.No.CID.BC.127/ the Draft Directions issued on March 30, 2015. The revised
20.16.056/2013-14 dated June 27, 2014 inter-alia setting out directions are detailed below.
a Uniform Credit Reporting Format for the purpose of
reporting credit information to the Credit Information 2. Requirement of prior approval of Reserve Bank
Companies (CICs).
54 | 2015 | AUGUST | BANKING FINANCE
