The Reserve Bank of India (RBI) said on February 3 that the banking sector remains resilient and stable.
- The comments come amid speculations over various banks’ exposure to the Adani Group, which has seen stock prices plummet over the controversial Hindenburg report and its FPO withdrawal.
- The banking regulator said it has a Central Repository of Information on Large Credits (CRILC) database system where the banks report their exposures worth Rs 5 crore and above. This data is used for monitoring purposes.
Central Repository of Information on Large Credits (CRILC)
- The Reserve Bank has created a Central Repository of Information on Large Credits (CRILC) of scheduled commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.
- With a view to building a similar database of large credits extended by primary (urban) co-operative banks (UCBs), it has been decided to bring UCBs with assets of ₹500 crores and above under the CRILC reporting framework.