Money & Banking

UCBs with assets above ₹500 crore must report large exposures to CRILC on a quarterly basis, says RBI

Our Bureau Mumbai | Updated on January 17, 2020 Published on January 17, 2020

Urban Co-operative Banks (UCBs), having total assets of ₹500 crore and above as on March 31 of the previous financial year, will have to report large exposures to the Central Repository of Information on Large Credits (CRILC) on a quarterly basis to start with, as per the operational guidelines issued by the Reserve Bank of India (RBI) for reporting large exposures to the repository.

As per the guidelines, UCBs must submit the data on large exposures within 30 days from the end of the quarter through the XBRL (the open international standard for digital business reporting) platform of the RBI.

Appropriate systems

The central bank said banks may put in place appropriate systems to be in readiness to submit the return on a more frequent periodicity.

As per a circular issued to UCBs in December 2019, UCBs, having total assets of ₹500 crore and above as on March 31 of the previous financial year, have to report credit information, including classification of an account as Special Mention Account (SMA), on all borrowers having aggregate exposures of ₹5 crore and above with them to CRILC maintained by the central bank.

The aggregate exposure should include all fund-based and non-fund based exposure, including investment exposure on the borrower. The CRILC return for UCBs will comprise three sections – exposure to large borrowers (section 1); reporting of technically / prudentially written-off accounts (section 2); and reporting of balance in current account (section 3).

When it comes to ‘exposure to large borrowers’ (section 1), UCBs must report the credit information of all borrowers having aggregate exposures (fund-based, non-fund based and investment exposure) of ₹5 crore and above.

For ‘reporting of technically/prudentially written-off accounts’ (section 2), UCBs must report the data on the amount written off, if any, for borrowers whose technically/prudentially written off amount is ₹5 crore or more, and which are not reported in section 1.

For ‘reporting of balance in current account’, UCBs must report the data on current account holders whose (i) balance (either credit or debit) in current account as on reporting date is ₹1 crore and above or (ii) total of credit summation (sum of all credit transactions) during the reporting quarter is ₹5 crore and above or (iii) total of debit summation (sum of all debit transactions) during the reporting quarter is ₹5 crore and above.

The RBI advised UCBs to take utmost care about data accuracy and integrity while submitting the data on large credits to the central bank, failing which penal action would be undertaken.

Published on January 17, 2020
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