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), a move aimed at early recognition 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 off-site supervision and early recognition of financial distress.
Earlier in its bi-monthly monetary policy review this month, the RBI had announced that it would bring Urban Cooperative Bank’s with assets of 500 crore rupees 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.
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