Incorporating unique identifiers for the borrowers (Aadhar for individuals and CIN for companies), Reserve Bank’s BSR1 and CRILC datasets can quickly be converted into a useful PCR covering customers of SCBs to start with. It can then be expanded to cover other financial institutions in India. A comprehensive PCR down the road will be even more effective. 28.
This market has grown to an estimated total of 3.2 trillion USD and has been accompanied by declining lending standards and higher corporate leverage. Covenant-lite loans were rare prior to the crisis, but since 2009 its share of issuance has increased to 50-80%. Moreover, there has been an increase in leverage and deterioration in credit quality.