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Credit Information Companies (Regulation) Act, 2005

Contents

 

Sections

Particulars

1

Preamble

Chapter I

Preliminary

1

Short title, extent and commencement

2

Definitions

Chapter II

Registration of Credit Information Companies

3

Prohibition to commence or carry on business of credit information

4

Application for registration

5

Grant of certificate of registration

6

Power of Reserve Bank to cancel certificate of registration

7

Appeal against order of Reserve Bank

8

Requirement as to minimum capital

Chapter III

Management of Credit Information Companies

9

Management of credit information company

10

Power of Reserve Bank to determine policy

11

Power of Reserve Bank to give directions

12

Inspection of credit information company, credit institution and specified user

Chapter IV

Auditors

13

Powers and duties of auditors

Chapter V

Functions of Credit Information Companies

14

Functions of a credit information company

15

Credit Institution to be member of a credit information company

16

Failure to become a member of a credit information company

17

Collection and furnishing of credit information

18

Settlement of dispute

Chapter VI

Information Privacy Principles and Furnishing of Credit Information

19

Accuracy and security of credit information

20

Privacy principles

21

Alteration of credit information files and credit reports

22

Unauthorised access to credit information

Chapter VII

Offences and Penalties

23

Offences and penalties

24

Cognizance of offences

25

Power of Reserve Bank to impose penalty

26

Application of fines

Chapter VIII

Miscellaneous

27

Power of Reserve Bank to specify maximum amount of fees

28

Disclosure of information before any court or tribunal or authority

29

Obligations as to fidelity and secrecy

30

Protection of action taken in good faith

31

Bar of jurisdiction

32

Power of Reserve Bank to exempt in certain cases

33

Application of other laws not barred

34

Amendment of certain enactments

35

Removal of difficulties

36

Power to make rules

37

Power of Reserve Bank to make regulations

Parts

Amendments to Certain Enactments

Part I

Reserve Bank of India Act, 1934

Part II

The Banking Regulation Act, 1949

Part III

The State Financial Corporation Act, 1951

Part IV

The State Bank of India Act, 1955

Part V

The State Bank of India (Subsidiary Banks) Act, 1959

Part VI

The Deposit Insurance and Credit Guarantee Corporation Act, 1961

Part VII

The State Agricultural Credit Corporations Act, 1968

Part VIII

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Part IX

The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980

Part X

The Export-Import Bank of India Act, 1981

Part XI

The National Bank for Agriculture and Rural Development Act, 1981

Part XII

The Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983

Part XIII

The National Housing Bank Act, 1987

Part XIV

The Regional Rural Banks Act, 1976



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