Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies - আরবিআই - Reserve Bank of India
Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies
RBI/2023-24/62 September 20, 2023 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) Dear Sir/ Madam, Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies Please refer to our circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014, inter alia setting out a common Data Quality Index (DQI) for assessing the quality of data submissions by Credit Institutions (CIs) to Credit Information Companies (CICs) and improving the same over a period of time. Currently, the DQI is being used for data submitted under the consumer segment. 2. With a view to enable further implementation of DQI, it has been decided that CICs shall prepare DQIs for Commercial and Microfinance segments also as per Annex I and II, respectively. CICs shall provide the DQIs for Commercial and Microfinance segments to all CIs latest by March 31, 2024. 3. Further, CICs are advised as under:
4. CIs are advised to undertake half yearly review of the DQI for all segments to improve the quality of the data being submitted to CICs. Corrective steps taken on the above issues along with a report on the same shall be placed before its top management by each CI for review within two months from the end of that half-year. Yours faithfully (J. P. Sharma) Encl: Annex I and II 1Viz. Consumer, Commercial and Microfinance segments |