Tuesday, May 17, 2005
Tuesday, May 17, 2005 |
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MUMBAI: State Bank of India and Housing Development Finance Corporation Ltd have divested 23.75 per cent stake each in Credit Information Bureau India (CIBIL) to nine new investors including ICICI Bank, Punjab National Bank, HSBC, Citibank and Sundaram Finance. This follows THE Reserve Bank of India's statement in the annual Monetary and Credit Policy 2004-2005 that credit bureaus should have a sufficiently diversified ownership. India's first credit information bureau was set up by SBI and HDFC with 40 per cent stake each while Dun and Bradstreet Information Services India Pvt Ltd (D&B) and Trans Union International Inc (TU) held 10 per cent each, CIBIL said in a release here on Monday. Under the new shareholding structure, ICICI Bank would hold 10 per cent stake with a position on the board of directors. PNB, Bank of India, Central Bank of India, Union Bank of India, Bank of Baroda, Citibank, HSBC would hold 5 per cent stake each and Sundaram Finance would have 2.5 per cent stake, HDFC sources said. — PTI
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