CIBIL launched its credit bureau operations in April 2004 and its commercial bureau operations in May 2006. Following enactment of the Credit Information  BIS central bankers’ speeches  1  Companies (Regulation) Act (CICRA) in 2005, three other Credit Information Companies (CICs) have also been set up. 4.
The global financial crisis has, however, exposed several limitations of conventional and unconventional monetary policy tools. In despair, some have turned to the heterodox evolution of ideas that has come to be known as modern monetary theory. While the jury is still out on this idea, I have my own strong reservations on this due to its serious downside risks.