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Exam CIPP-A topic 1 question 87 discussion

Actual exam question from IAPP's CIPP-A
Question #: 87
Topic #: 1
[All CIPP-A Questions]

Which Indian institution is vested with powers under the Credit Information Companies (Regulation) Act of 2005?

  • A. The Reserve Bank of India.
  • B. The National Housing Bank.
  • C. The Oriental Bank of Commerce.
  • D. The Securities and Exchange Board of India.
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Suggested Answer: A 🗳️

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Bhimesh
8 months ago
Selected Answer: A
Credit Information Companies (Regulation) Act 2005 —In this Act (j) “regulations” means regulations made by the Reserve Bank under this Act; REGISTRATION OF CREDIT INFORMATION COMPANIES 3. Prohibition to commence or carry on business of credit information.—Save as otherwise provided in this Act, no company shall commence or carry on the business of credit information without obtaining a certificate of registration from the Reserve Bank under this Act. 5. Grant of certificate of registration.—(1) The Reserve Bank may, for the purpose of considering the application of a company for grant of a certificate of registration to commence or carry on the business of credit information, require to be satisfied, by an inspection of records or books of such company 6. Power of Reserve Bank to cancel certificate of registration.—(1) The Reserve Bank may cancel a certificate of registration granted to a credit information company
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