Question
Which regulatory authority oversees and governs the
functioning of Credit Information Companies (CICs) like CIBIL, Experian, Equifax, and CRIF High Mark in India?Solution
• CIBIL (Credit Information Bureau India Ltd.) was India’s first credit information company, providing credit history and credit scores of individuals and businesses to member institutions. • It is regulated under the Credit Information Companies (Regulation) Act, 2005 (CICRA, 2005) by the Reserve Bank of India (RBI). • In 2010, RBI also licensed Experian, Equifax, and CRIF High Mark as additional credit bureaus to improve competition and efficiency. • Consumer credit scores in India generally range between 300 and 900, with higher scores indicating lower default risk. Thus, the regulatory authority is RBI
The primary objective of an Internal Audit, as opposed to a Statutory Audit, is to:
A company purchased a machinery for Rs.4,50,000. The machine is expected to have a useful life is 7 years after which it can salvage a value of Rs.30,0...
What is the interest rate earned on digital currency e-rupee?
A bill of ₹2,00,000 is drawn for 90 days and discounted at 10% p.a. Calculate the amount of discount and proceeds received. Assume 360 days in a year....
A company follows the accrual basis of accounting and recognizes revenue when the goods are dispatched, not when cash is received. However, in its final...
Under the equity method of accounting for associates (AS 23), the investment is initially recorded at cost and subsequently adjusted for:
Traditional costing over-allocates overhead to mass motor policies and under-allocates to niche marine policies. Which ABC driver is most appropriate?
According to the MSME policy, the startup status of a company ceases if its turnover exceeds ____ or it has completed ____ years from incorporation.
SA 230 standard refers to:
Which among the following would be classified as a part of Internal Liability?
Relevant for Exams:
