Which regulatory authority oversees and governs the functioning of Credit Information Companies (CICs) like CIBIL, Experian, Equifax, and CRIF High Mark in India?

• 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