Reserve Bank of India (RBI) deputy governor Viral Acharya on Monday said there is a need to enact a new law to bring the public credit registry (PCR) under its purview. A new PCR Act will ensure transparency in data acquisition and dissemination through access rights by various users, Acharya said at a session at the Ficci-IBA conference. “It is desirable to have a special comprehensive legislation overriding the prohibitions contained in all other legislations on sharing of information required for PCR. Otherwise, all such legislation will have to be amended separately, providing an exemption for sharing of information with PCR,” said Acharya. The idea of a PCR was first mooted by Acharya himself last year at the Annual Statistics Day conference. He said the PCR aims to be an extensive database of credit information that is accessible to all stakeholders. From the point of origination of credit to its termination, the PCR will capture all lender-borrower accounts at one place. A