American Express to start reporting card information to NeSL in November

Decision is in compliance with 2017 RBI circular asking financial creditors to submit financial information to an information utility under Section 215 of IBC

American Express has notified its card customers that it will commence reporting card information to National e-Governance Services Ltd (NeSL) effective November.

This is in accordance with a 2017 RBI circular that asked financial creditors to submit financial information to an information utility under Section 215 of Insolvency and Bankruptcy Code (IBC).

According to Section 215 of IBC, a financial creditor shall submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in such form and manner as may be specified by regulations.

The Insolvency and Bankruptcy