BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5 Crore and above
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5.2 Crore and above
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6 Crore and above
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8 Crore and above
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Detailed explanation-1: -Central Repository of Information on Large Credits (CRILC) is established by the Reserve Bank of India to collect, store, and disseminate credit data to lenders. Therefore, banks will have to furnish credit information to CRILC on all their borrowers which have aggregate fund-based and non-fund based exposure of Rs.
Detailed explanation-2: -The Reserve Bank on Friday directed large cooperative banks to report all exposures of Rs 5 crore and more to the Central Repository of Information on Large Credits (CRILC), a move aimed at early recognition of financial distress.
Detailed explanation-3: -The CRILC was built in 2014 precisely to help financial institutions and banks to assess their non-performing assets (NPAs) and also share this information with other institutions.
Detailed explanation-4: -In addition, the lenders shall report to CRILC, all borrower entities in default (with aggregate exposure of ₹ 50 million and above), on a weekly basis, at the close of business on every Friday, or the preceding working day if Friday happens to be a holiday.