Credit Information Companies (Regulation) Act : Requirement as to minimum capital. Indian Bare Acts :

Credit Information Companies (Regulation) Act,2005

Act No : 30

Section : Requirement as to minimum capital.

8. Requirement as to minimum capital.-(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.