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of <h1>India Updates FDI Policy: 49% Foreign Investment in Credit Information Companies Allowed with Government Approval and RBI Clearance.</h1> The Government of India has revised its Foreign Direct Investment (FDI) policy to allow foreign investment in Credit Information Companies (CICs) under specific conditions. Foreign investment up to 49% is permitted with government approval and regulatory clearance from the Reserve Bank of India (RBI). Within this, investment by registered Foreign Institutional Investors (FIIs) is capped at 24% for CICs listed on stock exchanges, with no single entity holding more than 10% equity. Any acquisition over 1% must be reported to the RBI, and FIIs cannot seek board representation based on shareholding. The policy also removes 'Credit Reference Agencies' from the list of Non-Banking Financial Company (NBFC) activities.
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