.............The Reserve Bank of India (RBI) constituted a committee in March 2013 under the chairmanship of Aditya Puri, managing director of HDFC Bank, to examine reporting formats used by CICs and related issues. The committee, comprising representatives from various stakeholders including the CICs, public and private sector banks, foreign banks, has presented its report to the RBI. Its recommendations, if accepted, would have huge impact on stakeholders involved -- CICs, credit institutions and the consumer. Some of the recommendations will require changes in the law...........
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