RBI asks CICs to prepare data quality index for commercial, microfinance segments

RBI asks CICs to prepare data quality index for commercial, microfinance segments

The Reserve Bank of India on Wednesday asked Credit Information Companies (CICs) to prepare data quality index for commercial and microfinance segments. In June 2014, the RBI had issued directions for setting out a common Data Quality Index (DQI) for assessing the quality of data submissions by Credit Institutions (CIs) to CICs, and improving them … Read more

Parliament proceedings | Banks write off loans worth ₹11.17 lakh crore in last six years

Parliament proceedings | Banks write off loans worth ₹11.17 lakh crore in last six years

“Banks have written off ₹11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22,” Parliament was informed on December 20. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the … Read more