The Credit Information Companies (Regulation) Act, 2005.
The Credit Information Companies (Regulation) Act, 2005 governs the regulation of credit information companies and the use of credit information in India.
Summary
The Credit Information Companies (Regulation) Act, 2005 is an Act of the Indian Parliament that regulates credit information companies and the use of credit information in India. The Act was enacted to provide a legal framework for the establishment and operation of credit information companies, which collect and maintain credit information of individuals and companies. The Act also governs the use of credit information by banks, financial institutions, and other entities, and provides for the protection of consumer rights in relation to credit information. The Act established the Credit Information Bureau (India) Limited (CIBIL) as the first credit information company in India, and provides for the regulation and supervision of credit information companies by the Reserve Bank of India (RBI).
Table of Contents
| # | Section | Link |
|---|---|---|
| 1 | Section 2: Definitions | Open |
| 2 | Section 5: Grant Of Certificate Of Registration | Open |
| 3 | Section 6: Power Of Reserve Bank To Cancel Certificate Of Registration | Open |
| 4 | Section 7: Appeal Against Order Of Reserve Bank | Open |
| 5 | Section 9: Management Of Credit Information Company | Open |
| 6 | Section 11: Power Of Reserve Bank To Give Directions | Open |
| 7 | Section 12: Inspection Of Credit Information Company, Credit Institution And Specified User | Open |
| 8 | Section 13: Powers And Duties Of Auditors | Open |
| 9 | Section 14: Functions Of A Credit Information Company | Open |
| 10 | Section 15: Credit Institution To Be Member Of A Credit Information Company | Open |
| 11 | Section 16: Failure To Become A Member Of A Credit Information Company | Open |
| 12 | Section 17: Collection And Furnishing Of Credit Information | Open |
| 13 | Section 18: Settlement Of Dispute | Open |
| 14 | Section 20: Privacy Principles | Open |
| 15 | Section 21: Alteration Of Credit Information Files And Credit Reports | Open |