CIC Act 8Chapter II · Registration of Credit Information Companies
Section 8 · Requirement as to minimum capital
Text size — level 1 of 4
(1) The authorised capital of every credit information
company shall be a minimum of thirty crores:
Provided that the Reserve Bank may, by notification, increase the minimum amount of authorised capital to any amount not exceeding fifty crores.
(2) The issued capital of every credit information company shall not be less than twenty crores:
Provided that the Reserve Bank may, by notification, increase the issued capital to any amount not exceeding the minimum amount of authorised capital as referred to in sub-section (1).
(3) The minimum paid up capital of every credit information company at any time shall not be less than seventy-five per cent. of the issued capital.
Provided that the Reserve Bank may, by notification, increase the minimum amount of authorised capital to any amount not exceeding fifty crores.
(2) The issued capital of every credit information company shall not be less than twenty crores:
Provided that the Reserve Bank may, by notification, increase the issued capital to any amount not exceeding the minimum amount of authorised capital as referred to in sub-section (1).
(3) The minimum paid up capital of every credit information company at any time shall not be less than seventy-five per cent. of the issued capital.
Your private note on this section
Only you can see this note.