Report exposures above Rs 5 crore to CRILC: RBI to large Cooperative Banks

The Reserve Bank of India (RBI) on Friday directed large cooperative banks to report all exposures of Rs5 crore and more to the Central Repository of Information on Large Credits (CRILC). The move is aimed at early detection of financial distress.

The Reserve Bank has created a 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.

The central bank in a notification said, "It has been decided that Primary (Urban) Co-operative Banks (UCBs) having total assets of Rs500 crore and above as on March 31 of the previous financial year shall report credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposures of Rs5 crore and above with them to CRILC maintained by the Reserve Bank".

Aggregate exposure will include all fund-based and non-fund based exposure (like partial credit enhancement) including investment exposure on the borrower. To start with, UCBs will be required to submit CRILC report on a quarterly basis with effect from December 31, 2019.

Earlier in its fifth bi-monthly monetary policy review announced on December 05, 2019, the RBI had announced to bring UCBs with assets of Rs500 crore and above under the CRILC reporting framework.

Detailed operating instructions will be issued shortly by Department of Supervision, Reserve Bank of India.