Reserve Bank of India

21.01.2016

Banking

Central Fraud Repository comes into operation

MANU/DDBS/0001/2016

The Reserve Bank of India notified operation of the Central Fraud Registry from 20 January, 2016. The Registry, first mentioned in the Bank’s Fourth Bi-Monthly Monetary Policy Statement, 2014-15, will record fraud committed by borrowers, and the information will be searchable by banks. Frauds involving sums between Rs. 1,00,000 and Rs. 5,00,00,000 will be monitored by RBI’s Regional Office, whereas frauds greater than Rs. 5,00,00,000 will be monitored by the Central Fraud Monitoring Cell.

Tags : RBI Central fraud registry cell

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