This may imply that we live at the expense of the future, in particular if we concentrate on one-off payments that are “eaten away” and do not contribute to the solution of the most persistent problems of the economy. However, if we use these funds prudently and wisely, this may also imply that we are building the country’s economic future.
The PCR in India has been conceived as a data infrastructure that the financial ecosystem within and outside the Reserve Bank would be drawing data from as per the PCR’s access policy. The prospective users will include lenders like banks and non-bank lenders including the new “fin-tech” lenders; others providing data analytics such as rating agencies and credit information companies; as well as regulators.