Question

As per the Credit Information Companies (Regulation) Act, 2005 the Reserve Bank may, by notification, increase the minimum amount of authorised capital of very credit information company to____________________

A An amount of fifty crores Correct Answer Incorrect Answer
B Any amount not exceeding fifteen crores Correct Answer Incorrect Answer
C Any amount not exceeding fifty crores Correct Answer Incorrect Answer
D Such amount as it may determine after consultation with the Central Government Correct Answer Incorrect Answer
E Either (a) or (d) Correct Answer Incorrect Answer

Solution

Section 8(1) Requirement as to minimum capital - Provided that the Reserve Bank may, by notification, increase the minimum amount of authorised capital to any amount not exceeding fifty crores

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