OTCO International launches credit referencing services

OTCO International Ltd has announced that the Board of Directors of the Company at its meeting held on September 06, 2006, inter alia, has reviewed the operations of the Company:

Further the Company has informed that:

1. The company had amended the Objects clause of its Memorandum of Association on the July 22, 2005 to include the business of Credit Referencing Services. Accordingly the Company has invested its resources and developed a software / system / process for the provision of Credit Referencing Services.

2. The company has deployed its credit referencing system with 5 urban banks in Bangalore on a Beta Testing basis for Credit Referencing inter se.

3. The Company envisages the expansion of its services to Credit Institutions including Banks, NBFC’s and others in Bangalore, Karnataka, Maharashtra and Gujarat regions in the near future.

Source : Equity Bulls

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