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In a move that could enable banks to improve their loan portfolios and guard against over leveraged borrowers, RBI on Thursday asked banks to furnish information on loans above R10 crore towards creating a central repository. The move comes after the new governor, Raghuram Rajan, announced that such a database would be made available to banks to help them understand the build-up of leverage across corporate clients.
“This data will help banks take a more informed decision before lending especially to big companies. It will help us evaluate the group's debt before lending. Plus most data are already automated, so submitting this data to RBI should not be a problem," RK Goyal, executive director, Central Bank of India, said.