Answer-A credit bureau is governed under which Act?

Q: Answer-A credit bureau is governed under which Act?

The Credit Information Companies Regulation Act, 2005 CIC Act, is a legislation enacted by the Government of India to regulate the actions of credit information companies in India CICs in India and to facilitate efficient distribution of credit as well as for matters connected to the same.

Home
Questions
Finance and Management
The Management Basics
A credit bureau is governed under which Act?

Question

A credit bureau is governed under which Act?

A Banking Regulation Act 1949 Correct Answer Incorrect Answer

B Reserve Bank of India Act 1934 Correct Answer Incorrect Answer

C Credit Information Companies Regulation Act (CIC Act), 2005 Correct Answer Incorrect Answer

D Securities and Exchange Board of India Act, 1992 Correct Answer Incorrect Answer

E None of the above Correct Answer Incorrect Answer

Solution

The Credit Information Companies (Regulation) Act, 2005 ("CIC Act"), is a legislation enacted by the Government of India to regulate the actions of credit information companies in India ("CIC's") in India and to facilitate efficient distribution of credit as well as for matters connected to the same.

Practice Next