Section 8
Requirement as to minimum capital.
The Credit Information Companies (Regulation) Act, 2005.
About this Act
An Act to provide for regulation of credit information companies and to facilitate efficient distribution of credit and for matters connected therewith or incidental thereto.
(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.