Parliament of India 23 June 2005, Act 30 of 2005 (The Credit Information Companies (Regulation) Act, 2005.)

Also known as

India · · · 23-06-2005

Section 1. Short title, extent and commencement.
Section 2. Definitions.
Section 3. Prohibition to commence or carry on business of credit information.
Section 4. Application for registration.
Section 5. Grant of certificate of registration.
Section 6. Power of Reserve Bank to cancel certificate of registration.
Section 7. Appeal against order of Reserve Bank.
Section 8. Requirement as to minimum capital.
Section 9. Management of credit information company.
Section 10. Power of Reserve Bank to determine policy.
Section 11. Power of Reserve Bank to give directions.
Section 12. Inspection of credit information company, credit institution and specified user.
Section 13. Powers and duties of auditors.
Section 14. Functions of a credit information company.
Section 15. Credit institution to be member of a credit information company.
Section 16. Failure to become a member of a credit information company.
Section 17. Collection and furnishing of credit information.
Section 18. Settlement of dispute.
Section 19. Accuracy and security of credit information.
Section 20. Privacy principles.
Section 21. Alteration of credit information files and credit reports.
Section 22. Unauthorised access to credit information.
Section 23. Offences and penalties.
Section 24. Cognizance of offences.
Section 25. Power of Reserve Bank to impose penalty.
Section 26. Application of fines.
Section 27. Power of Reserve Bank to specify maximum amount of fees.
Section 28. Disclosure of information before any court or tribunal or authority.
Section 29. Obligations as to fidelity and secrecy.
Section 30. Protection of action taken in good faith.
Section 31. Bar of jurisdiction.
Section 32. Power of Reserve Bank to exempt in certain cases.
Section 33. Application of other laws not barred.
Section 33A. Powers of Reserve Bank not to apply to International Financial Services Centre.
Section 34. Amendment of certain enactments.
Section 35. Removal of difficulties.
Section 36. Power to make rules.
Section 37. Power of Reserve Bank to make regulations THE SCHEDULE.

Section 1. Short title, extent and commencement.

(1) This Act may be called the Credit Information Companies (Regulation) Act, 2005.
(2) It extends to the whole of India.
(3) It shall come into force on such date ¹ as the Central Government may, by notification in the Official Gazette, appoint:
Provided that different dates may be appointed for different provisions of this Act, and any reference in any such provision to the commencement of this

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