The Chairman / Chairman & Managing Director All India Term-lending and Refinancing Institutions
Reporting to Central Repository of Information on Large Credits (CRILC)
We draw your attention to RBI Guidelines on “Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy” issued on January 30, 2014 and subsequent DBOD circulars DBOD.BP.BC.No.97 /21.04.132/2013-14 and DBOD.BP.BC.No.98/21.04.132/ 2013-14 both dated February 26, 2014 issued on the subject. In terms of the guidelines, RBI has set up the CRILC to collect, store and disseminate data on all borrowers' credit exposures including Special Mention Accounts (SMA 0, 1 & 2) having aggregate fund-based and non-fund based exposure of Rs.50 million and above.
Under the extant instructions, lenders have been advised to report separately to CRILC, as under:
i. CRILC-Main (Quarterly Submission): This will comprise of four sections i.e. Section 1: Exposure to Large Borrowers (Global Operations), Section 2 - Reporting of Technically/Prudentially Written-off Accounts (Global Operations), Section 3 - Reporting of Balance in Current Account (Global Operations) and Section 4: Reporting of Non cooperative Borrowers (Global Operations).
ii. CRILC-SMA 2 and JLF Formation (Submission on 'as and when' basis): There will be two sheets which are to be submitted on as and when basis, i.e. whenever a large borrower's account becomes overdue for 61 days and/or a Joint Lenders Forum (JLF) is formed in respect of a SMA 2 classified borrower.
In the light of DBOD instructions referred above and in exercise of the powers conferred under Section 45(L) of the RBI Act, 1934, you are advised to submit borrower-wise exposure data to CRILC-Main and CRILC-SMA 2 and JLF Formation through the XBRL based reporting system with effect from the quarter ending June 2014. The quarterly CRILC Main report is required to be submitted within 21 days from the close of the relevant quarter. The format of reporting is enclosed. For any clarification, please contact through email or on Telephone No.022-2215 0721.
The CRILC data including details of SMA 2 reported are shared in consolidated form with the reporting entities and hence imperatives of ensuring robust data quality hardly require elaboration. As the CRILC data is collected under the provisions of the RBI Act, non adherence to reporting instructions attracts penal provisions under the Act.