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Banking - General Knowledge Questions
Who issued the eligibility rules for companies that utilize credit bureau data?
A)
Central Bank of India
B)
State Bank of India
C)
Reserve Bank of India
D)
Union Bank of India

Correct Answer :   Reserve Bank of India

Reserve Bank of India (RBI) issued eligibility criteria for entities that harness data from credit information companies (CICs) or credit bureaus. These newly-formed guidelines said that a company’s net worth must be at least Rs 2 crore and owned and controlled by resident Indian citizens to become a designated user with a credit bureau, which comes amid accusations of lending applications with Chinese ties functioning in India.

Published On : January 10, 2022
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