Although the CRILC has been set up essentially to help banks and other financial institutions in improving their credit administration, it is also expected to provide vital inputs in supervisory risk assessment in terms of build-up of risk concentration and emerging asset quality related vulnerabilities. 9. I would like to be candid here.
Ideally, the CRILC should have been thought about and built by the CICs. The fact that we as the regulator had to take this step indicates that the credit information industry needs to develop much more.