Mumbai: The Reserve Bank of India said on Friday it has given in-principle approval to four entities to set up credit information companies.
The four companies that received approval were Credit Information Bureau (India) Ltd, Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd, and Highmark CreditInformation Services Pvt. Ltd.
The central bank had invited applications from companies which want to continue or commence business credit information under the Credit Information Companies Act, 2005.
It received 13 applications for the same.
“The Reserve Bank set up a high level advisory committee for expert opinion on the applications received and recommending the names of the companies which the Reserve Bank could consider for granting certificate of registration for setting up or continuing as a credit information company,” the RBI release said.