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ICC plans to extend card defaulters database

Our Bureau

NEW DELHI, Dec. 8

THE India Cooperation Committee (ICC), the working group of MasterCard banks in the country, is deliberating on expanding the scope of its Negative File Project, currently covering ``delinquent cardholders'', to other banking ventures such as NBFCs and c ellular phone operators.

The Negative File Project, spearheaded by MasterCard International, is an initiative to share information on delinquent cardholders, enabling the banks to make an informed credit decision. The initiative was precipitated by the fact that the lack of a ce ntralised database in the country allowed delinquent cardholders to default with multiple retail lending institutions.

At a recent meeting of the ICC, several initiatives were reviewed and the de facto industry forum for the credit card industry, the ICC, plans to enhance the scope of the project according to a communique received here.

Speaking in his capacity as Chairman of ICC's negative file sub-committee, Mr Harpal Dugal, GM & CEO, Standard Chartered Bank, said the negative file project had benefited all MasterCard member banks in the country with the data shared on over 2,25,000 p ast due customers as on December 2000.

The database is managed by Satyam Credit Information Services, a division of Satyam Enterprises Solutions.

The ICC has also launched a focused programme, MasterCard Priceless Moments, to encourage cardholders to use their cards in preference to conventional modes of payment. Supported by MasterCard member banks, cardholders can also enjoy benefits and incenti ves when they make purchases at over 150 leading merchants across the metros, between December 1 and January 31.