In order to check asset quality in the banking sector, the urban co-operative banks, the regional rural banks (RRBs) and the smaller non-banking finance companies (NBFCs) should also be brought into the system of credit rating, said J Sadakkadulla, Regional Director of Reserve Bank of India, Chennai. Delivering a keynote address on the importance of credit information to financial institutions at the fourth Annual Credit Information Conference in Chennai organised by the Credit Information Bureau (India) Ltd (CIBIL) and TransUnion Software Services, he said, "Those who are left out, the urban cooperative banks (which as a whole is as good as a commercial bank), RRBs, the smaller NBFCs should also be gradually brought into the system."...........
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