UPSC CDS GS General Knowledge Questions 1

The Reserve Bank of India has recently constituted a high-level task force on Public Credit Registry (PCR) to suggest a road map for developing a transparent, comprehensive and near-real-time PCR for India. The task force is headed by Y. M. Deosthalee, former CMD of L&T Finance Holdings Ltd and will have nine other members. Public credit registry is a database of credit information that is accessible to all stakeholders. A PCR is maintained by a public authority like the central bank or the banking supervisor. It helps to keep record of individual and firms on unpaid debts and credit outstanding.