Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies

Here is a summary of the provided document:

Summary:

The Reserve Bank of India (RBI) has issued a notification to Credit Information Companies (CICs) and all Commercial Banks to implement a Data Quality Index (DQI) for Commercial and Microfinance segments. The DQI is a common index used to assess the quality of data submissions by Credit Institutions to CICs. The CICs are required to prepare and provide DQIs for Commercial and Microfinance segments to all Credit Institutions by March 31, 2024. The DQI scores will be provided on a monthly basis and computed at both CI and file levels. The CICs are also required to provide reasons for decline in score and provide monthly data to the RBI for monitoring purposes. Additionally, Credit Institutions are advised to undertake half-yearly reviews of the DQI for all segments to improve data quality.

Please let me know if you have any further questions!