Equifax Credit Information Services (ECIS) has welcomed the Government move to hike foreign direct investment (FDI) cap in the credit information sector to 74 percent from existing 49 percent.
The credit sector is still in early stages and local and foreign investors, lenders, and consumers will undoubtedly benefit from ongoing improvements that additional investment opportunities in the sector might bring, said a top Equifax official.
Equifax Inc has been in India for the last three years, through a joint venture.
"Going forward, the increased FDI cap will provide ECIS with additional flexibility in developing leading analytical solutions, differentiated products and value-added services and we look forward to continuing our close working relationship", said Sanjay Patel, Managing Director and CEO, Equifax.