Economics • Banking & FinanceMedium
Which of the following bodies in India is statutorily empowered to regulate and supervise Credit Information Companies (CICs) under the Credit Information Companies (Regulation) Act, 2005?
A. Securities and Exchange Board of India
B. Insurance Regulatory and Development Authority
C. Reserve Bank of India✓ Correct Answer
D. Ministry of Corporate Affairs
💡 Solution & Explanation
The Reserve Bank of India derives statutory authority to regulate credit information companies under the Credit Information Companies Regulation Act enacted in 2005. Other financial regulators like SEBI govern capital markets rather than credit bureaus. Strengthening credit infrastructure is a key focus area for financial stability.
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