information companies

UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated - December 3, 2009 The Government had in exercise of powers conferred by Section 35 of the Act issued (Removal of Difficulties) Order, 2008 dated January 24, 2008 extending the last date for taking membership of at least one credit information company by credit institutions to December 31, 2008. A copy of captioned Notification dated January 24, 2008 is enclosed for information and necessary action. Further extension of tim.. Full Article

As you are aware, the Credit Information Companies (Regulation) Act, 2005 has been operationalised with effect from December 14, 2006. In terms of Section 15(1) of the Act, every credit institution has to become member of at least one credit information company within a period of three months from commencement of the Act or any extended time allowed by the Reserve Bank on application. Full Article

  Reserve Bank of India has allowed three more credit information companies to do business. The banking regulator has also permitted the only  existing local credit bureau Cibil (Credit Information Bureau India Ltd) to maintain credit histories of insurance and telecom customers. The three new entities include Equifax Credit Information Services, Experian Credit Information Company, [...] Full Article