RBI directs large Co-operative Banks to Report all exposures of Rs 5 crore and Above

RBI directs large Co-operative Banks to Report all exposures of Rs 5 crore and Above

• The Reserve Bank of India has decided that all Primary (Urban) Co-operative Banks (UCBs) having total assets of Rs 500 crore and above as on 31 March, 2018 shall report their credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposures of Rs 5 crore and above with them to Central Repository of Information on Large Credits (CRILC) maintained by the Reserve Bank.
• Aggregate exposure shall include all fund-based and non-fund based exposure, including investment exposure on the borrower.
• Initially, UCBs will be required to submit CRILC Report on quarterly basis with effect from December 31, 2019 until further directions by RBI.
• CRILC: The Reserve Bank in its fifth Bi-monthly Monetary Policy Statement (December 05, 2019), announced the creation of Central Repository of Information on Large Credits (CRILC) of scheduled commercial banks, all India financial institutions and certain non-banking financial companies for strengthening offsite supervision and early recognition of financial distress.

Points to Remember:

1. UCBs having total asset of ___________ are required to report exposures of Rs 5 crore and above to Central Repository of Information on Large Credits (CRILC)?
2. Large UCBs has been directed to report all exposures above ___________ to CRILC?
3. Full form of CRILC?
4. Who maintains the Central Repository of Information on Large Credits (CRILC)? RBI