**Executive Summary**
This document contains the Credit Information Companies (Amendment) Regulations, 2017 issued by the Reserve Bank of India on August 11, 2017, and published in the Gazette of India on August 25, 2017. The amendment modifies the Credit Information Companies Regulations, 2006 by updating the list of eligible entities. The regulations took effect upon publication in the official gazette.
**Key Points / Main Content**
* **Short Title and Commencement:**
* The regulations are called the Credit Information Companies (Amendment) Regulations, 2017.
* They came into force on the date of their publication in the official gazette (August 25, 2017).
* **Amendment of Regulation 3 of the Credit Information Companies Regulations, 2006:**
* Replaces the words "following companies" with "following persons."
* Adds two new entities to the list:
* An "information utility" as defined in the Insolvency and Bankruptcy Code, 2016.
* A "resolution professional" appointed under the Insolvency and Bankruptcy Code, 2016, limited to the credit information of the corporate debtor they are appointed for.
**Impact Analysis**
**Reserve Bank of India:**
* **Impact:** Oversees the amendment and enforcement of these regulations.
* **Action Required:** Ensure compliance with the amended regulations during supervisory activities.
**Credit Information Companies:**
* **Impact:** Must comply with the updated regulations regarding the list of eligible entities from whom they can collect and share credit information.
* **Action Required:** Update internal policies and procedures to include information utilities and resolution professionals as defined, and in compliance with the Insolvency and Bankruptcy Code, 2016.
**Information Utilities (as defined in the Insolvency and Bankruptcy Code, 2016):**
* **Impact:** Now formally recognized as entities that can interact with credit information companies.
* **Action Required:** Establish procedures for sharing and receiving information with credit information companies in compliance with the amendment.
**Resolution Professionals (appointed under the Insolvency and Bankruptcy Code, 2016):**
* **Impact:** Granted access to credit information related to the corporate debtor they are appointed for.
* **Action Required:** Establish procedures for accessing credit information from credit information companies in compliance with the amendment, focusing on information of the corporate debtor.
**Corporate Debtors:**
* **Impact:** Credit information will be shared more widely with entities involved in insolvency proceedings.
* **Action Required:** No direct action, but increased awareness of credit information sharing.
**Other Persons previously covered by the initial terminology (following companies):**
* **Impact:** The amendment is a clarifying detail that changes the terminology to the correct one ("following persons").
* **Action Required:** No action required as a consequence of this change in terminology.
Key Entities Referenced
Credit Information Companies (Regulation) Act, 2005: The act that empowers the Reserve Bank of India to regulate credit information companies.
Credit Information Companies Regulations, 2006: The original regulations that the amendment modifies.
Credit Information Companies (Amendment) Regulations, 2017: The set of regulations that amends the 2006 regulations.
Insolvency and Bankruptcy Code, 2016: The law that defines 'information utility' and impacts resolution professionals, both added to the regulations.
Reserve Bank of India: The regulator making the amendment to the regulations.
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भारतीय िरज़व र्बक(cid:7289)
अिधसचू ना
मुम् बई, 11 अगस् त, 2017
(cid:7079)त्यय िवषयक जानकारी कंपनी (सशं ोधन) िविनयमावली, 2017
स.ं बीबीआर.सीआईडी. स.ं 786/20.16.050/2017-18.—(cid:7079)त्यय िवषयक जानकारी कंपनी (िविनयमन) अिधिनयम, 2005
(2005 का 30) की धारा 37 (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करत े हुए, भारतीय िरज़वर् बक(cid:7289) (cid:7367)ारा (cid:7079)त्यय िवषयक जानकारी कंपनी
िविनयमावली, 2006 को संशोिधत करन ेके िलए िन(cid:7388)िलिखत िविनयम बनाए जात ेह।(cid:7289)
1. लघु शीषकर् और आरंभ (1) इन िविनयम(cid:7298) को (cid:7079)त्यय िवषयक जानकारी कंपनी (संशोधन) िविनयमावली,
2017 कहा जाएगा।
(2) ये आिधकािरक गज़ट म (cid:7286)इनके (cid:7079)कािशत होने की तारीख से लाग ूह(cid:7298)ग।े
2. िविनयम 3 का सशं ोधन (cid:7079)त्यय िवषयक जानकारी कंपनी िविनयमावली, 2006 के िविनयम 3 म(cid:7286),
(i) "िन(cid:7388)िलिखत कंपिनय(cid:7298)" के स्थान पर "िन(cid:7388)िलिखत (cid:7390)ि(cid:7334)य(cid:7298)" शब्द रखे जाएंगे।
(ii) खंड (छ) के बाद िन(cid:7388)िलिखत को जोड़ा जाएगा, नामतः
"(ज) इन्फॉम(cid:7287)शन यूिटिलटी जैसा िक िदवािलया और शोधन अक्षमता
संिहता, 2016 (2016 का अिधिनयम 31) म(cid:7286) पिरभािषत िकया गया ह ै
(झ) िदवािलया और शोधन अक्षमता संिहता, 2016 (2016 का
अिधिनयम 31) के तहत िनय(cid:7334)ु समाधान (cid:7390)ावसाियक (Resolution
Professional), उस कॉप(cid:7299)रेट कजर्दार की ऋण सूचना के सबं धं म(cid:7286),
िजसके िलए उस ेिनयु(cid:7334) िकया गया ह।ै "
सुदशर्न सेन, कायर्पालक िनदशे क
[िवज्ञापन-III/4/असा./181/17]
फुटनोट : (cid:7079)त्यय िवषयक जानकारी कंपनी िविनयमावली, 2006 को सा.का.िन. 754(अ), िदनांक 14 िदसंबर 2006 (cid:7367)ारा भारत के
राजप(cid:7074), असाधारण, भाग-II, खडं 3, उप-खंड (i), म(cid:7286) (cid:7079)कािशत िकया गया।
5296 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
RESERVE BANK OF INDIA
NOTIFICATION
Mumbai, the 11th August, 2017
THE CREDIT INFORMATION COMPANIES (AMENDMENT) REGULATIONS, 2017
No. BBR.CID. No. 786/20.16.050/2017-18.—In exercise of the powers conferred by section 37 of the Credit
Information Companies (Regulation) Act, 2005 (Act 30 of 2005), the Reserve Bank of India hereby makes the following
regulations, to amend the Credit Information Companies Regulations, 2006.
1. Short title and (1) These regulations may be called the Credit Information Companies (Amendment)
commencement Regulations, 2017.
(2) They shall come into force on the date of their publication in the official gazette.
2. Amendment of In the Credit Information Companies Regulations, 2006, in regulation 3,
regulation 3
(i) for the words ‘following companies’, the words ‘following persons’ shall be
substituted
(ii) after clause (g), the following shall be inserted, namely,
“(h) an information utility as defined in the Insolvency and Bankruptcy Code,
2016 (Act 31 of 2016)
(i) a resolution professional appointed under the Insolvency and Bankruptcy
Code, 2016 (Act 31 of 2016), in so far as the credit information of the
corporate debtor, in respect of which he has been so appointed.”
SUDARSHAN SEN, Executive Director
[ADVT.-III/4/Exty./181/17]
Footnote : The Credit Information Companies Regulations, 2006 were published in the Gazette of India, Extraordinary,
Part-II, Section 3, Sub-section (i), vide GSR 754(E), dated 14th December, 2006.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.