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Business News

Dec 28, 2019
2:38PM

RBI directs large co-op banks to report exposures above Rs 5 cr

@RBI
The Reserve Bank of India (RBI) has directed large cooperative banks to report all exposures of 5 crore rupees and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress.

The Reserve Bank has created a CRILC of commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.

Earlier in its bi-monthly monetary policy review this month, the RBI had announced to bring UCBs with assets of Rs 500 crore and above under the CRILC reporting framework.

Aggregate exposure will include all fund-based and non-fund based exposure (like partial credit enhancement) including investment exposure on the borrower. To start with, UCBs will be required to submit CRILC report on quarterly basis with effect from December 31, 2019. 

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