14th December, 2006, vide notification No. S.O. 2098(E), dated 14th December, 2006, see Gazette of India, Ext… — THE CREDIT INFORMATION COMPANIES (REGULATION) ACT, 2005

14th December, 2006, vide notification No. S.O. 2098(E), dated 14th December, 2006, see Gazette of India, Extraordinary, Part II, sec. 3(ii).

1. 14th December, 2006, vide notification No. S.O. 2098(E), dated 14th December, 2006, see Gazette of India, Extraordinary, Part II, sec. 3(ii). (v) any other matter which the Reserve Bank may, consider necessary for inclusion in the credit information to be collected and maintained by credit information companies, and, specify, by notification, in this behalf; (e) "credit information company" means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under sub-section (2) of section 5; (f) “credit institution” means a banking company and includes— (i) a corresponding new bank, the State Bank of India, a subsidiary bank, a co-operative bank, the National Bank and regional rural bank; (ii) a non-banking financial company as defined under clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934); (iii) a public financial institution referred to in section 4A of the Companies Act, 1956 (1 of 1956); (iv) the financial corporation established by a State under section 3 of the State Financial Corporation Act, 1951 (63 of 1951); (v) the housing finance institution referred to in clause (d) of section 2 of the National Housing Bank Act, 1987 (53 of 1987); (vi) the companies engaged in the business of credit cards and other similar cards and companies dealing with distribution of credit in any other manner; (vii) any other institution which the Reserve Bank may specify, from time to time, for the purposes of this clause; (g) "credit scoring" means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him; (h) “notification” means a notification published in the Official Gazette of India; (i) “prescribed” means prescribed by rules made under this Act; (j) “regulations” means regulations made by the Reserve Bank under this Act; (k) "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934); (l) "specified user" means any credit institution, credit information company being a member under sub -section (3) of section 15, and includes such other person or institution as may be specified by regulations made, from time to time, by the Reserve Bank for the purpose of obtaining credit information from a credit information company; (m) words and expressions used herein and not defined in this Act but defined in the Reserve Bank of India Act, 1934 (2 of 1934) or the Banking Regulation Act, 1949 (10 of 1949) or the Companies Act, 1956 (1 of 1956) shall have the meanings respectively assigned to them in those Acts. CHAPTER II REGISTRATION OF CREDIT INFORMATION COMPANIES

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