GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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September 30, 2005
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April 5, 2006
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May 26, 2006
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June 29, 2007
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Detailed explanation-1: -It may be recalled that the Credit Information Companies (Regulation) Act, 2005 was passed in May 2005 and notified in the Gazette of India on June 23, 2005.
Detailed explanation-2: -The Credit Information Companies (Regulation) Act, 2005 ("CIC Act"), is a legislation enacted by the Government of India to regulate the actions of credit information companies in India ("CIC’s") in India and to facilitate efficient distribution of credit as well as for matters connected to the same.
Detailed explanation-3: -Every credit information company or a credit institution or any specified user, wilfully, performing any act or engaging in any practice, in breach of any of the principles, shall be punishable with fine not exceeding one crore rupees.