RBI has announced the creation of a panel to consider creation of a Public Credit Registry PCR opera...........

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RBI has announced the creation of a panel to consider creation of a Public Credit Registry (PCR) operated by the regulator. What is/are the advantages of PCR?

It can help banks in credit assessment and pricing of credit.
It will allow mandatory registration of all participatory notes (PN) FII entries in India.

Which of the above is/are correct?

1 only

2 only

Both 1 and 2

None

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Explanation:

Statement 1: The PCR will be an extensive database of credit information for India that is accessible to all stakeholders. The idea is to capture all relevant information in one large database on the borrower and, in particular, the borrower’s entire set of borrowing contracts and outcomes. Further, it can help supervisors, regulators and banks in early intervention and effective restructuring of stressed bank credits.