Easy Office
LCI Learning

Submission of data to Credit Information Companies

Last updated: 07 September 2010

 Notice Date : 06 September 2010

 Submission of data to Credit Information Companies




September 6, 2010

All State and Central Co-operative Banks

Dear Sir,

Submission of data to Credit Information Companies

Please refer to our circular RPCD.CO.RF.BC.No.44/07.40.06/2009-10 dated December 1, 2009 on the captioned subject.

2. We advise that apart from Credit Information Bureau of India Ltd., (existing credit information company in operation since January 2001), the Reserve Bank of India has issued certificate of registration to Experian Credit Information Company of India Pvt. Ltd. and Equifax Credit Information Services Pvt. Ltd. on February 17, 2010 and March 26, 2010 respectively to commence the business of credit information. The addresses and other details of the companies are given below:

(i) Credit Information Bureau (India) Ltd.

    Hoechst House, 6th floor,

    193, Backbay Reclamation,

    Nariman Point, Mumbai – 400 021

    Tel. No. 022-66384600

    Fax No. 022-66384666

(ii)  M/s Experian Credit Information Company of India Private Ltd.

      Platina, 9th Floor, C-59, G Block

      Bandra Kurla Complex,

      Bandra East, Mumbai 400051

      Tel. No. 022-39530851

      Fax No. 022-39530605

(iii) Equifax Credit Information Services Pvt. Ltd.

     2nd Floor, Centre Point

     Junction of S. V. Road and Juhu Road

     Santacruz West 

     Mumbai 400 054

     Tel. No. 022-42375600

     Fax No. 022-42375601

3. In terms of sub-sections (1) and (2) of Section 17 of the Credit Information Companies (Regulation) Act, 2005, a credit information company may require its members to furnish credit information as it may deem necessary in accordance with the provisions of the Act and every such credit institution has to provide the required information to that credit information company. Further, in terms of Regulation 10(a) (ii) of the Credit Information Companies Regulations, 2006, every credit institution shall:

(a) keep the credit information maintained by it, updated regularly on a monthly basis or at such shorter intervals as may be mutually agreed upon between the credit institution and the credit information company; and

(b) take all such steps which may be necessary to ensure that the credit information furnished by it, is up-to-date, accurate and complete.

4. It is, therefore, advised that banks which have become members of the above credit information companies may provide them the current data in the format prescribed by the Credit Information Company. Such banks may also provide historical data in order to enable the credit information companies to validate their software and develop a robust database.

5. Please acknowledge receipt to our regional office concerned.

Yours faithfully,


Chief General Manager



Notification No : RPCD.CO.RF.BC.No.17/07.40.06/2010-11
Published in Others

Join CCI Pro


CAclubindia's WhatsApp Groups Link