Mumbai, Jun 28 (KNN) The Reserve Bank of India (RBI) has asked the banks to give data about wilful defaulters of Rs 25 lakh and above for the quarter ended December 31, 2014, and of Rs 1 crore and above for the half year ended December 31, 2014, to credit information firms from the beginning of 2015.

“Banks/FIs may continue to furnish the data on wilful defaulters (non-suit filed accounts) of Rs. 25 lakhs and above for the quarter ending June 30, 2014 and September 30, 2014 to RBI. Similarly, in respect of defaulters (non-suit filed accounts) of Rs. 1 crore and above, they may continue to submit the data to RBI for the half year ending September 30, 2014 in the existing format,” RBI has said in a notification.

After this, banks can continue to furnish data with regard to wilful defaulters to credit information firms on a monthly or a more frequently basis, RBI said.

This will allow banks to have data on wilful defaulters on a real-time basis.

This has been based on the report submitted by the committee formed by RBI, headed by HDFC Bank MD Aditya Puri, to recommend the data format for furnishing of credit information to credit information companies. (KNN/SD)