The Credit Information Companies (Regulation) Act, 2005.
CHAPTER V: FUNCTIONS OF CREDIT INFORMATION COMPANIES
Section 15: Credit Institution To Be Member Of A Credit Information Company
Bare Act
(1) Every credit institution in existence on the commencement of this Act, before the expiry of three months from such commencement or within such extended period, as the Reserve Bank may allow on its application and subject to being satisfied about the reason for extension, shall become member of at least one credit information company.
(2) Every credit institut… Read the complete text with KanoonGPT Pro.
Simplified Act
Simplified Explanation of Section 15 of The Credit Information Companies (Regulation) Act, 2005
(1) If a credit institution was already operating when this law started, it m… Read the complete text with KanoonGPT Pro.
