April 5 2006- Date on Which RBI issued Draft Regulation relating to Credit Information Companies Regulation Act 2005
Q. When did the Reserve Bank of India notify the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005? - Published on 20 Jul 15a. April 5, 2006
b. May 26, 2006
c. June 29, 2007
d. September 30, 2005
ANSWER: April 5, 2006
The Reserve Bank of India (RBI) notified the draft regulations relating to the Credit Information Companies (Regulation) Act, 2005 on April 5, 2006. Among the major features of the regulations is the inclusion of stock brokers and telecommunication companies in the category of 'specified users' of services of credit information companies. It is expected that there will be a boost to the development of credit, based on a more reliable information base, once the regulations are finalised.
