The PCR Act will need to ensure adequate safeguards on data while at the 10  same time address extant restrictions on sharing of credit data that prevent efficient allocation and regulatory supervision of credit. The PCR Act would also have to be comprehensive so as to bring in data from the section of lenders who do not directly fall under the RBI regulations.
To this end, the RBI plans to engage with the Government and other regulators in the coming months. In the meantime, the RBI has set up an Implementation Task Force that is putting the systems infrastructure in place to kickstart the PCR with data from regulated entities that can be covered either under, or with minor tweaking, of the extant legislative framework.