Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the ultimate-addons-for-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114
RBI imposes penalty of Rupees One lakh on CRIF High Mark Credit Information Services Private Limited - All About Finance

RBI imposes penalty of Rupees One lakh on CRIF High Mark Credit Information Services Private Limited

The Reserve Bank of India has imposed a monetary penalty of Rs.1 lakh (Rupees One lakh) on CRIF High Mark Credit Information Services Private Limited; a Credit Information Company (CIC), for violation of Sections 9(1) and 9(2) of the CICRA as it did not have a whole time Managing Director/Director to manage the whole of the affairs of the CIC.

The Reserve Bank had issued a show cause notice to the CIC, in response to which, it submitted its written reply and was also given a personal hearing. After considering the facts of the case and the CIC’s submissions in the matter, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty.

The penalty has been imposed on CIC in exercise of the powers vested in the Reserve Bank under the provisions of Section 23(4) of the Credit Information Companies (Regulation) Act, 2005 (CICRA).

Alpana Killawala
Principal Chief General Manager

Press Release : 2014-2015/1239

Taxclick Team
This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

Leave a Comment