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Investment in Credit Information Companies

RBI - DBR.CID.BC.No.98/20.16.042/2015-16 - Dated:- 19-5-2016 - RBI/2015-16/400 DBR.CID.BC.No.98/20.16.042/2015-16 May 19, 2016 All Credit Information Companies In exercise of the powers conferred by sub-section (1) of Section 11 of Credit Information Companies (Regulation) Act, 2005, and in supersession of its direction on (CICs) dated November 29, 2013, Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest to do so, hereby directs that investments dire .....

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in the company) (b) up to 100% if their ownership is well diversified or If their ownership is not well diversified, at least 50% of the directors of the investee CIC in India are Indian nationals/ Non-Resident Indians/ Persons of Indian Origin subject to the condition that one third of the directors are Indian nationals resident in India. (c) The investor company should preferably be a listed company on a recognised stock exchange. 3. FII/FPI investment would be permitted subject to the conditi .....

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