Paragraph 5.2.20 Credit Information Companies (Cic)
- Text as on
- As issued 15 October 2020; Press Notes since are not applied
5.2.20 CREDIT INFORMATION COMPANIES (CIC)
Sector/Activity % of Equity/ Entry Route 5.2.20.1 FDI Cap Credit Information Companies 100% Automatic
5.2.20.2 OTHER CONDITIONS
(1) Foreign investment in Credit Information Companies is subject to the Credit Information Companies (Regulation) Act, 2005.
(2) Foreign investment is permitted subject to regulatory clearance from RBI.
(3) Such /FPI investment would be permitted subject to the conditions that:
(a) A single entity should directly or indirectly hold below 10% equity.
(b) Any acquisition in excess of 1% will have to be reported to RBI as a mandatory requirement; and
(c) /FPIs investing in CICs shall not seek a representation on the Board of Directors based upon their shareholding.