The Reserve Bank of India (RBI) has constituted high-level task force on public credit registry (PCR) for India. It will be chaired by Y M Deosthalee, former CMD of L&T Finance Holdings Ltd and will have nine other members. Public credit registry keeps extensive database of credit information which will be  accessible to all stakeholders. It helps good borrowers in securing credit at lowers costs and also improve access of credit to small and medium enterprises.

It is set up by central bank of the country for reporting of loan details to Registry by lenders and borrowers as per law. It mainly keeps records of individuals and firms on repayment history, unpaid debts, or credit outstanding

It will review current availability of information on credit in country, assess gaps in India that could be filled by a comprehensive PCR and roadmap including priority areas for developing a transparent, comprehensive and near-real-time PCR for India.

It will also study best international practices on PCR, decide structure of new information system. It will also determine scope and target of comprehensive PCR such as type of information that should be covered along with cut-off size of credit. It will submit its report by April 2018.