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What is CMA Data? Explain in detail.
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Answer Posted / rajender kumar
RBI introduced Credit Monitoring Arrangement (CMA) after
discontinuing Credit Authorisation Scheme (CAS) in 1988.
Under CMA system, RBI prescribed two sets of formats viz
(i) Assessment of working capital requirements and (ii)
Monitoring through Quarterly Information System (QIS), to
cover borrowers i.e. ‘General Category’ and ‘Traders &
Merchant Exporters’. The Credit Monitoring Arrangement
(CMA) under which banks were required to report to RBI the
details of credit facilities sanctioned to large borrowers
from the banking system for post sanction scrutiny was also
discontinued in December 1997 and in lieu thereof a new
reporting system was put in its place.
Where assessment of working capital limits is done as per
Simplified Turnover method (Nayak Committee), information
on Credit Monitoring Arrangement (CMA) data base forms is
not required.In order to avoid unnecessary paper work which
causes delay in sanction of credit facilities including
SMEs, it is required that where assessment of working
capital limits is done as per Simplified Turnover method
(Nayak Committee), information on Credit Monitoring
Arrangement (CMA) data base forms shall not be obtained.
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