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Answer

Correct Option is 3 years

Solution:Reserve Bank of India (RBI) has released eligibility norms for entities tapping into data from credit information companies (CICs) under clause (j) of Regulation 3 of the CICs (Amendment) Regulations, 2021.
A ‘specified user’ should be a company incorporated in India or a Statutory Corporation established in India.
In case the entity is a company, it should have not less than 3 years of experience in running the business/activity of processing information for the support or benefit of credit institutions and shall have a clean track record.
The company should have a net worth of not less than Rs 2 crore as per the latest audited balance sheet and should meet the requirement on a continuing basis.
Currently, there are 4 Credit Information Companies (CICs) — Credit Information Bureau (India) Ltd (CIBIL), Equifax Credit Information Services Pvt Ltd, Experian Credit Information Company of India Pvt Ltd and CRIF High Mark Credit Information Services Pvt Ltd.

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