The envisaged Indian PCR will mandate recording of all material events for all loans on all credit facilities (funded as well as non-funded) extended by all credit institutions – commercial banks, cooperative banks, NBFCs, MFIs – and also covering borrowings from other sources (Chart 2).
In today’s interconnected world, having such a forum to discuss issues and challenges specific to emerging-market economies is extremely valuable. Furthermore, in many instances, the Bank is the only representative from the continent and is thus able to provide an African perspective on some of the economic challenges confronting the global economy.