The Reserve Bank of India (RBI) on Thursday said banks and financial institutions should report their investments in commercial papers and unhedged foreign currency exposures of their borrowers to credit information companies.
Such a move was suggested by a committee headed by HDFC Bank managing director and chief executive Aditya Puri in June 2014, of which most of the recommendations have been implemented so far.
The reporting requirement of commercial papers and unhedged forex (foreign exchange) exposures of borrowers were yet to be implemented.
While the information on commercial papers have to be reported on a monthly basis to all four credit information companies, the information regarding unhedged forex exposure should be reported on a quarterly basis, RBI said in a notification.
Such a move was suggested by a committee headed by HDFC Bank managing director and chief executive Aditya Puri in June 2014, of which most of the recommendations have been implemented so far.
The reporting requirement of commercial papers and unhedged forex (foreign exchange) exposures of borrowers were yet to be implemented.
While the information on commercial papers have to be reported on a monthly basis to all four credit information companies, the information regarding unhedged forex exposure should be reported on a quarterly basis, RBI said in a notification.
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