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2 · Definitions; (1) In these rules, uniess the context otherwise requires, (a) 'access" with its grammatical variations and cognate variations means gaining entry into, instructing Or cornmunicating with logical, arithmetical or memory function resources of a computer; computer system or computer network including approach 0f communication or making use of data; inforation or credit information through any means, physical or otherwise. (b) Act" means the Credit Information Companies (Regulation) Act; 2005 (30 of 2005);

3889 · C12(XG=

3 · Appellate authority - The Central Government; r such other Authority or Tribunal as may be designated subsequently by the Central Government as per sub-section (1) of . section 7 of the Act shall be_the Appellate Authority for the purpose of sub-section (1) of section 7 of the Act

4 · Form and procedure of appeal - (1) An appeal as per the provisions of sub-section (1) of section 7 of the Act; shall be presented in Form 1 in duplicate by an aggrieved credit information company, or its agent or by a duly authorised legal practitioner; before the appellate authority or Shall be sent by registered post addressed to such authority with acknowledgement duly addressed to the appellate authority or any other officer authorised in writing by the appellate authority to receive the same;

6 · L anguage 0f a ppellate authority: T he proceedings of the appellate authority shall be conducted in English or Hindi and the appeal, application, or any other document submitted before the appellate authority, shall be in such language and in case any of such documents is in a different language, the translation thereof in English or Hindi shall be required to be produced.

7 · Appeal to be in writing: (1) Every appeal, application, reply. representation Or any other document filed before the appellate authority shall be typewritten , cyclostyled or pririted neatly and iegibly on one side of the good quality paper in double space and separate sheets consecutively numbered shall be stitched together and fled in the manner as provided in sub-rule (2).

9 · Dcements to accompany memorandum of appeal: (1) Every mein citum of appeal shall be accompanied with copies of the erder sgainst which the appeal is filed and the documents relied upon by #v: sppellant wnic ihe appeilant is represented by an agent, or any of its officss ; #forz the appellate authority, the document authorising him to & :uo capacity shall also be appended to the memorandum of appca',

18 · , Py~sentation a 2 scrutiny of memorandum of appeal: on scrutiny of the appeal received, it is found to be in order; the s2:" snall be daly registered by the secretariat of the appellate autho tv and giveri 3 serial number. (2;! Ori scrutiny; an appeal is found to be defective and the defect is Si t ihai it couid be aliowed to be rectified, the appellate authority nay Janif time not exceeding thirty days for such rectification and dircct 'tz secretariat to communicate to the appellant the defect and tre twve %ranted for its rectification. 031 i; In ~ppellarit fails to rectify the defect within the time as aicvcl for the puifose as per sub-rule (2), the secretariat shall eucn (he report of such failure of the appellant for consideration of tte uppo"late authority, Who may by an order and for reasons to be rACj?d ir; writirg, decline to register the appeal and direct the 393 arifto communicate such order to the appellant within seven day? 4 ar:: tne cate of the order. (4} #ine appellant submits any representation within a period of fi'teen days fromfrA date c receipt of communication as per sub-rule

11 · Notice of appeal to the respondent: A copy of the memorandum of appeal along with the copy of the documents submitted therewith, shall be served by the secretariat of the appellate authority on the respondent as soon as the appeal is registered as per sub-rule (1) of rule 10, by hand delivery, or by registered post or speed post.

12 · Filing of reply to the appeal and other documents. (1) The respondent_ may file reply in duplicate to the appeal along with documents, in the secretariat of the appellate authority, within one month of the service Of the notice on him of the filing of the memorandum of appeal: (2) The respondent shall also endorse one copy of the reply to the appeal along with documents filed as per sub-rule (1) to the appellant; (3) The appellate authority may, in Its discretion on an application by the respondent; allow the filing of the reply after the expiry of period referred to in sub-rule (1).

13 · Date of hearing to be communicated. (1) The appellate authority shall fix the date and place of hearing of the appeal and direct its secretariat to communicate the same to" the appellant and the respondent in the manner as the appellate authority may by general or special order direct (2) The appellate authority may subject to its satisfaction adjourn the hearing of the appeal, if so reguested by any of the parties to the 'appeal:

15 · Order to be signed and dated - (1) Every order of the appellate authority shall be in writing and shall be signed and dated by the appeilate authority passing the order: (2) During the pendency of the appeal, the appellate authority shall have powers to pass such interim order a it may deem fit including one 0f an injunctior, subject to reasons to be recorded in writing; which it considers necessary in the interest of justice.

16 · Communication of order:" Every order passed on an appeal shall be communicated ta the appellant and to the respondent concerned either in person or by registered post within a period of seven days from the date of the order:

17 · . Orders and directions in certain cases. The appellate authority may make such orders or give such directions, as may be necessary or expedient to give effect to its orders or to prevent abuse of its process:

18 · Steps for security and safeguards to be taken by credit institution. Every credit institution, in existence in India on the commencement of these rules, before the expiry of three months from such commencement; and every other credit institution befcre the expiry of three months of commencing their business in India, shall formulate appropriate policy and procedure, duly approved by its Board of Directors, specifying therein the steps and security safeguards, to be adopted in their operations relating to (a) collection, processing and collating of data, information and credit information by them relating to their borrower or client; (b) steps to be taken for ensuring security and protection of data, information, and credit information maintained by them; (c) appropriate and necessary steps for maintaining an accurate complete and updated data, information and credit information, in respect of their borrower or client, and to ensure the accuracy and completeness thereof while furnishing the same to a credit information company Or making disclosure thereof to anyone else in accordance with the provisions of the Act; and (d) transmitting data; information and credit information through secure medium.

19 · Collection of data and maintaining credit information (1) A credit institution shall (a) collect all such relevant data in respect of Its b orrcwer or client, as it may deem necessary and appropriate for maintaining an accurate and complete data, information and credit information in respect of such borrower or client; and (b) use such data; information and credit information subject to the provisions Of the Act,

20 · Accuracy of data provided by a credit institution - (1) Every credit institution before furnishing data Or an information or credit information to a credit information company Or making disclosure thereof to anyone else in accordance with the provisions of the Act shall ensure that the credit information is accurate and complete with reference to the date on which such information is furnished or disclosed and adopt appropriate procedure in this behalf with the approval of their Board. (2) If, for any reason beyond control, it is not possible for any credit institution to furnish credit information as per sub-rule (1), such credit institution while furnishing the credit information to a credit information company or making disclosure thereof to anyone else , shalk make a remark with reference to the date up to which the accuracy and completeness of the credit information has been verified and found t0 be correct. (3) Subject to the provisions of sub-sections (2) and (3) of section 21 of the Act; in respect of alteration and updating Of credit information on request of a borrower in accordance with the said provisions, if a credit institution after furnishing the data or information or credit information , to a credit information company or making disclosure thereof to anyone else, in accordance with the Act, discovers of its own, or is informed about; any inaccuracy, error Or discrepancy therein the credit institution shall (a) latest by third day, send the intimation to the credit information company or the individual, as the case may be, of such inaccuracy, error or discrepancy; (b) take immediate steps to correct such inaccuracy, error Or discrepancy; and (c) the credit institution shall forward the corrected particulars of the data or information or credit information, as the case may be, to the credit information company or the individual, as the case may be, within period of twenty one days from the date

4a · 4 {q 8aHKS

21 · Disclosure of disputed data by a credit institution - If, in the opinion of a credit institution, correction of any inaccuracy, error Or discrepancy as referred to in rule 20, is likely to take further time on account of any dispute raised by a borrower in respect thereof, with the credit institution or before a court of law, or any forum, or tribunal or any other authority, in such cases the credit institution shall adopt the following course of action, namely - (a) if the disputed data has not been furnished, in such event while furnishing such data to a credit information company or making dlsclosure thereof to anyone else, in accordance with the Act;, the credit institution shall include an appropriate remark to reflect the nature of the inaccuracy, error: or discrepancy found therein and the pendency of the dispute in respect thereof and in any subsequent disclosure of such disputed data the credit institution shall also disclose such remark; Or (b) in case such credit information has already been furnished to a credit information company or disclosed to anyone else, the credit institution shall inform the credit information company Or the individual, as the case may be, to include the remark about such inaccuracy, error or discrepancy and the pending dispute in respect thereof, against such data, information or credit information received by them from the credit institution; and

3889 · GL/2OD6

23 · Data security and system Integrity safeguards: Every credit institution shall adopt such procedure and measures in relation to their daily operations as may be necessary to safeguard and protect the data, infommation and the credit information maintained by them, against any unauthorised access t0 or misuse of the same including the following safeguards, namely: (a) adopting the minimum standards for physical and operational security including site design, fire protection, environmental protection; (b) keeping the round the clock physical security; (c) issuance 0f instructions for removing; labeling and securing the removable electronic storage media at the end of the session Or working day;

24 · Formulation and adoption of the procedure by credit information companies (1) Every credit information comp'any. in existence on the commencement of these rlles within Inree conths of the commencement of these rules, and every credit information company to whom a certificate of registration has been granted, after the commencement of these rules within three months of such grant; shall take such requisile steps, as it may deerr} necessary, in relation to their operations and accordingly formulate policy and procedure

47 · 4 {747

25 · Accuracy of data provided by a credit information company - (1) Every credit information company shall adopt appropriate procedure with the approval of the Reserve Bank- (a} for verifying the data; information Or credit information maintained by them on the basis of the information obtained by them from credit institution or credit information company, as the case may be; and (b) to ensure; before furnishing data_ information Or credit information to a specified user Or making disclosure thereof to anyone else in accordance with the Act; that such data, information or credit information m aintained by t hem i$ accurate, C omplete and u pdated with reference to the date mentioned therein by the respective credit institution or credit information company, as the case may be.

26 · Disclosure of disputed data by a credit information company: If, ir the opinion of a credit information company; correction of any inaccuracy, error or discrepancy referred to in rule 20, is likely to take further time on account of any dispute raised by a borower in respect thereof with the credit institution or before a court of law, or any forum; or tribunal or any other authority, in such cases the credit information company shall adopt the following course of action, namely: - (a) If the disputed data, information or credit information has not been furnished, in such event while furnishing such data, information or credit information to a specified user or making disclosure thereof to anyone else, in accordance with the Act, the credit information company shall include an appropriate remark to reflect the nature of the inaccuracy, error Or discrepancy found therein and pendency of the dispute in respect thereof and in any subsequent disclosure of such disputed data, information

27 · . Forulation and adoption of the procedure by . specified user:- (1) Every specified user, in existence on the commencement of these rules within three months of such commencement; and every specified user; coming into existence after the commencement of these rules within three months of its becoming member of a credit information company; shall take such requisite steps as it may deem necessary for ensuring and verifying the accuracy and completeness of data, information Or credit information received from a credit information company before using the same in relation to a borrower;, Or a client; in relation to their operations and to ensure protection thereof from unauthorised access, or use and formulate and adopt an appropriate policy and procedure in this behalf with the approval of their Board of Directors: (2) Without prejudice to the generality of the policy as formulated and p rocedure as adopted under sub-rule ( 1), e very S pecified u ser shall include in such policy and procedure, the provisions relating to the following, namely: (a) the level of officers to be authorised to access the data; information and credit information received from a credit information company; (b) the parameters to be adopted for satisfying itself about the identity of the respective b orrower; or the client whose credit report is to be taken into account by the specified user; (c) the appropriate measures s0 as to ensure that they do not fail to take note of any remark included by a credit information company in respect of any credit information; and

28 · Prohibition from unauthorized access Or use or disclosure:_ (1) Every credit institution, credit information company, and specified user, existing before the commencement of these rules within three months of such commencement and every credit institution, credit information company or specified user coming into existence after the commencement of these rules within three months of commencement of their business, shall take such steps as they may deem necessary to ensure that the data; information and the credit information maintained by them is duly protected against any unauthorized access or use and formulate and adopt an appropriate policy and procedure in this behalf with the approval of their Board of Directors . (2) Without prejudice to the generality of the policy and procedure, as formulated and adopted under sub-rule (1), every credit institution, credit information company, and specified user shall include such other aspects in such policy and procedure so as to () secure the confidentiality of the data; information and credit Information maintained by them; (ii) ensure that access to the data, information and credit Information maintained by them is permitted only to such of their managers Or employees or designated officers, who are duly authorised for the purpose on a need to know basis; (iii) ensure and control, access to the data, information and credit Information, terminals , and networks maintained by them, by tmeans of physical barriers including biometric access control and logical barriers by way of passwords and t0 ensure that the passwords u sed in this b ehalf are not shared by anyone else than who is authorised in

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3889 · GInO06 7

29 · Obligation for fidelity and secrecy:- (1) Every credit information company or credit institution Or specified ` user; in possession or control of data, information and credit information shall adopt all reasonable procedure to ensure that their managers , officers, employees are obliged to fidelity and secrecy in respect of credit information under their control or to which they have access.

4 · M 79

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3 · Verification

2 · If the borrower has been known by any other name in past ? YesNNo (a) If yes, his Last Name/Surame First Name Middle Name 3 Occupation of the bortower- 4 Address of the borower: (a) Residential Address FlatlDoor/lock No. Name of Premises/ Building Village Road/Street/Lane/Post Office ArealLocality Taluka/Sub-Division_ Towm/ CitylDistrict StateMUnion Territory Pin Telephone No. Fax Mobile Phone No. (bOftice Address Name of Office Flat Door Block No. Name of Premises Building/Village road StreetlLanelPost Office S Area/Locality/Taluka/Sub-Division Town/City District State/Union Territory Eaaa Pin Pin Telephone No. Khttet Fax

5 · , Address for Communication Tick { V } as applicable (a) Or (f column No.4.

6 · Borrowers Father' s Name - Last Namelsurname Middle Nama

13 · Web URL address (if any) of the borrOwer

14 · Documents submitted by the borrower as proof ofhis address (any 'of the following) Passport details (a) Passport No. (6) Passport issuing authority (c Passport expiry date (ddmmlyyyy) (i) Voter's identity card No. (iii) Income-tax PAN No.

15 · For CompanyfFirmBBody of Indlviduals/Association of Persons/Local Authority;

24 · Names, Addresses etc. of partners Members Directors

26 · Name of the authorired representative

27 · . Bank account Details; Name of the bank Bank account No. Type ofbank atcount

28 · Any other information

30 · Information relating to the guarantor or the person who has given or proposes to give guarantee Or security for a borrower of a credit institution including; (0) Name; full address including State and Pin Code; telephone number, date ofbirth / date of incorporation, PAN of the guarantor; (6) father s namc the amount guaranteed or t0 be guaranteed; and (d) the amount of guarantee invoked in respect whereof default has been committed by the guarantor; if any.

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3 · In addition to the specified user as provided in clause (0) of section 2 of the Act, the following companies shall also be regarded as a specified user , namely:

4 · Submission of application by companies for grant of certificate of registration: Every application by a company for grant of certificate of registration under section 4 of the Act shall be made in form A to the Chief General Manager-in-Charge of Department of Banking Operations and Development of the Reserve Bank at Central Office Building, Mumbai 400 001 , or t0 such other office and officer of the Reserve Bank as may be specified by it in this behalf.

5 · Grant of certlfilcate of registratlon - (1) If, on consideration of the particulars fumished by an applicant company; the Reserve Bank is satisfied that the conditions as specifed in sub-section (1) of section 5 of the Act are generally fulfilled and the company is in a position t fulfill the remaining conditions, it may (a)grant 'in-principle approval' to such applicant company and provide time to the company, not exceeding three months, for fulfilling the conditions Included therein; and (b) in any particular case the Reserve Bank may grant- further extension of such time not exceeding three months for the purpose of fulfillment of the conditions stipulated in the 'in- principle approval, where it is satisfied with respect to the cause for failure of the company to fulfill such conditions within the time s0 provided:

6 · Form of business in which credit Informatlon companles may engage - In addition to the business of credit information, and subject to such conditions as specified in these regulations, credit information companies may engage in any one or more of the following forms of business, namely (a)providing to any person his own credit credit information; (b) providing data management services to its member credit institutions; (c) collecting; processing; collating and disseminating data, relating to properties mortgaged to credit institutions; (d) collecting; processing, collating and disseminating data relating to investments made by its member credit institutions in securities other than government securities; (e) collecting, processing, collating data relating to, frauds perpetrated in borrowal accounts of credit institutions and money laundering; and dissemination thereof to its members and specified users.

3889 · GI206 _10

8 · Extenslon %f time for providing, credit information:" (1) In case a credit institution or a Gredit information company, as the case may be; for any justifiable reason, is notable to comply with the notice sent by a credit infomation company_ as per: sub-regulation ' (1) of regulation 7 within the time stipulated therein; it may approach the concerned; credit infomation company in writing for extension of time to comply with the same.

4 · 7 777a atwht4

10 · In addition to the principles and: procedures as provided in section 20 . of the. Act, every : credit information: company; credit institution and specified user, shalladopt the: following: prvacy principles in relation to their functioning, namely: '30 07V (a) Care in collection %f credit Inlonaton: () Every credit information: company shall take all such necessary; precautions,; in . respect; of_infonmatlon . raceived Of collected by it so as to ensure that such information is

11 · PrInciples and procedures relating to porsonal data . (1) Every credit Institution, credlt information company and specified user;, as the case may be, shali adopt the following princlples and procedures in respect of;

0 · ~r'IRCHAPTER VII 363

12 · (1) Every credit information company shall be entitled to charge such? 'amount; 85 I"mayy? deem ~ appropriate;!not exceeding Rs: .15,00,0007- towardsnfee;cfrom credit: institutions or credit wn information companies .ionadmitting them as their Jnember: X.0e01 vWn isct iJui "2i (2) Every credit iniormation company Shall be entilled to charge such 'amount; no 9 as?it' 0o 6 may Edeem' approptiate "Gfot exceeding Rs. 15,00,000f PhEc?8sa"8'fiQternber cteait-tiforralfon 'ompany '{?; 'and Rs.So,oodPFin 'case dFmember'credit inistitutior? towards the annual fee. b319dTJ?}

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2 · Please acknowledge the receipt of this notice.