As per RBI Circular dated 10.02.2009 , inorder to strengthen te information sharing systems among banks in respect of the borrowers enjoying credit facilities from multiple banks, the banks are required to obtain regular certification by a professional, preferably a Company Secretary, regarding compliance of various statutory prescriptions. BCS, being a competent professional firm capable of proving certification services hereby extend its arm to the banks and other institutions coming under the purview of the said notification.

With reference to the aforesaid circular issued by Reserve Bank of India, I would like to inform you that, for all the Lending under Consortium Arrangement/Multiple Banking Arrangements the banks are encouraged to strengthen their information back-up about the borrowers enjoying credit facilities from multiple banks as under:
i. At the time of granting fresh facilities, banks may obtain declaration from the borrowers about the credit facilities already enjoyed by them from other banks in specified format In the case of existing lenders, all the banks may seek a declaration from their existing borrowers availing sanctioned limits of Rs.5.00 crore and above or wherever, it is in their knowledge that their borrowers are availing credit facilities from other banks, and introduce a system of exchange of information with other banks as indicated above.
ii. Subsequently, banks should exchange information about the conduct of the borrowers' accounts with other banks in the format specified at least at quarterly intervals.
iii. Obtain regular certification by a professional, preferably a Company Secretary, regarding compliance of various statutory prescriptions that are in vogue, as per specimen given in Annex III of the RBI circular.