Public Credit Registry (PCR)

Public Credit Registry (PCR)

Public credit registry (PCR) is a single point information repository that will capture all relevant information about individual and corporate borrowers in one place. It will also allow the borrowers to access their own credit history. PCR will enable banks to access and distinguish credit information of each borrower on a need-to-know basis and accordingly offer differential interest rates based on the credentials. PCR will also enable integration of ancillary data from other entities including Ministry of Corporate Affairs, SEBI, GSTN, CERSAI, Central Fraud Registry and Wilful Defaulter/Caution/Suit Filed Lists, among others.

Source: The Hindu