Current Affairs · Banking Regulations
Under the RBI eligibility criteria for entities to be categorized as a 'Specified User' of Credit Information Companies (CICs), which of the following statements is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The company shall have at least three years of experience in running the business or activity of processing information.
- 2A 'specified user' must be a company incorporated in India or a statutory corporation established in the country.
- 3The company must have a net worth of not less than ₹5 crores as per the latest audited balance sheet.✓
- 4The criteria are set out under the Credit Information Companies (Amendment) Regulations, 2021.
Correct answer
The company must have a net worth of not less than ₹5 crores as per the latest audited balance sheet.
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