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The composition of the Working Group and its Terms of Reference

Annexure I

 
 

RESERVE BANK OF INDIA

 

CENTRAL OFFICE,

 

SHAHID BHAGAT SINGH ROAD,

 

MUMBAI - 400 001. INDIA

   

DEPUTY GOVERNOR

MEMORANDUM

 

Working Group to explore the possibilities of setting up a Credit Information Bureau in India

 

It is being contemplated to establish a Credit Information Bureau for the collection of credit information relating to borrowers from lending institutions and for the provision of such information to the financial system, with a view to facilitating the distribution of credit to all sectors of the economy and for matters connected therewith or incidental thereto. With a view to preparing an outline for setting up the Bureau, is has been decided so constitute a Working Group in Reserve Bank of India.

 

The composition of the Working Group is as under :-

1.

Shri N.H. Siddiqui.

Chairman

 

Chief General Manager,

 
 

Deportment of Banking Operations & Development

 
 

Central Office

 
 

Reserve Bank of India

 
 

Mumbai.

 
     

2.

Dr. K. V. Rajan

Member

 

General Manager

 
 

Department of Banking Operations & Development

 
 

Central Office.

 
 

Reserve Bank of India

 
 

Mumbai

 
     

3.

Shri Anand Sinha

Member

 

General Manager

 
 

Department of Banking Supervision

 
 

Central Office.

 
 

Reserve Bank of India

 
 

Mumbai.

 
     

4.

Shri P.V. Subba Rao

Member

 

General Manager

 
 

Department of Non-Banking Supervision

 
 

Central Office

 
 

Reserve Bank of India

 
 

Mumbai.

 
     

5.

Shri B.B. Tiwari,

Member

 

Joint Legal Advisor

 
 

Legal Department

 
 

Central Office

 
 

Reserve Bank of India

 
 

Mumbai.

 
     

6.

Shri R. Gandhi

Member

 

General Manager

 
 

Department of External Investment & Operations

 
 

Central Office

 
 

Reserve Bank of India

 
 

Mumbai.

 
     

7.

Shri C.R. Radhakrishnan

Member

 

General Manager

 
 

(Credit Policy and Procedure)

 
 

State Bank of India

 
 

Central Office

 
 

Mumbai.

 
     

8.

Shri S.V. Joshi

Member

 

General Manager

 
 

Bank of Baroda

 
 

(Mumbai Metropolitan Zone)

 
 

Mumbai.

 
     

9.

Shri M.G. Bakre

Member

 

Chief General Manager

 
 

Credit Recovery Department

 
 

IDBI

 
 

Mumbai.

 
     

10.

Shri S.A. Kerkar

Member

 

Senior General Manager

 
 

ICICI Ltd, Mumbai.

 
     

11.

Shri K. Unnikrishnan

Member

 

Executive - Banking Operations,

 
 

Indian Banks' Association

 
 

Mumbai.

 
     

12.

Shri M.P. Kothari

Member-Secretary

 

General Manager

 
 

Department of Banking Operations & Development

 
 

Central Office

 
 

Reserve Bank of India

 
 

Mumbai.

 

The terms of reference of the Working Group will be as under :

 

1)

to examine in detail the modalities for setting up of the Bureau, as well as powers and functions to be assigned to it;

   

2)

to look into all matters, (including the legal aspects) relating to the administration and management of the affairs of the Bureau;

   

3)

to recommend a suitable ownership and organisational pattern for the Credit Information Bureau;

   

4)

to finalise the type and range of trade, credit and financial information on borrowers or prospective borrowers of lending institutions to be collected from the customers of banks and other financial institutions generally and specifically; as also other economic/ environmental data that would be useful for the purpose The Group should also identify the various sources for collection of the information;

   

5)

methodology for maintenance of data bank on borrowers from lending institutions and its dissemination including supportive technology requirements therefor;

   

6)

to identify the member eligible for availing of the credit information and to decide on cost of dissemination of the data;

   

7)

to examine issues relating to furnishing of credit information by the Credit Information Bureau, on request, to financial institutions and to prescribe the forms in which such information into be furnished ;

   

8)

any other matter relevant to the setting up of a Credit Information Bureau.


The Secretariat support to the Working Group will be provided by the Department of Banking Operations & Development, Central Office, Reserve Bank of India.

 

The Working Group will submit its report by August 31, 1999.

 
 

(S.P. Talwar)

Deputy Governor

June 8, 1999

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