Credit information companies in India are regulated under which Act?
- A.The SEBI Act, 1992
- B.The Credit Information Companies (Regulation) Act, 2005
- C.The Banking Regulation Act, 1949
- D.The Reserve Bank of India Act, 1934
Show answer
This Act created the framework for credit bureaus, requiring them to register with the Reserve Bank of India, obliging banks and other credit institutions to become members and to furnish data, and giving borrowers the right to see and correct their own records.
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