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Date: 2024-04-30 Category: Not Applicable State: Union Government Country: India

Credit Information Companies (Amendment) Regulations, 2021

Issued by Reserve Bank of India · Not Applicable

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Executive Summary & Key Takeaways

**Executive Summary** This document is a notification from the Reserve Bank of India regarding amendments to the Credit Information Companies Regulations, 2006. It introduces new regulations related to entities involved in processing information for the support or benefit of credit institutions. The regulations come into force from the date of publication in the official gazette, November 29, 2021. **Key Points / Main Content** * **Title and Commencement:** * These regulations are called the Credit Information Companies (Amendment) Regulations, 2021. * The regulations are effective from the date of their publication in the official gazette (November 29, 2021). * **Amendment to Regulation 3:** * A new Clause (j) is added to Regulation 3 of the Credit Information Companies Regulations, 2006. * Clause (j) defines a new type of entity: "an entity engaged in the processing of information, for the support or benefit of credit institutions, and satisfying the criteria laid down by the Reserve Bank from time to time". **Impact Analysis** **Stakeholder: Credit Institutions** * **Impact:** Credit institutions may benefit from the support of entities engaged in processing information, in accordance with RBI criteria. * **Action Required:** Understand and comply with the updated regulations regarding entities processing information for their support or benefit. **Stakeholder: Entities Engaged in Information Processing** * **Impact:** Entities processing information for the support or benefit of credit institutions are now formally recognized and subject to RBI criteria. * **Action Required:** Ensure compliance with the criteria laid down by the Reserve Bank of India to qualify under the new Clause (j) of Regulation 3. **Stakeholder: Reserve Bank of India** * **Impact:** The RBI has expanded its regulatory oversight to include entities processing information for credit institutions. * **Action Required:** Establish and communicate clear criteria for entities engaged in processing information to qualify under the new regulation.

Key Entities Referenced

Credit Information Companies Regulations, 2006: The original regulations being amended by this notification. Credit Information Companies (Amendment) Regulations, 2021: The main regulation being promulgated, amending the 2006 regulations. Credit Information Companies (Regulation) Act, 2005: The Act that empowers the Reserve Bank of India to make these regulations. Reserve Bank of India: The regulator issuing the amendment regulations. New Delhi: Location where the Gazette of India is published.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-30112021-231472 xxxGIDHxxx CG-DL-E-30112021-231472 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण्ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 618] नई ददल्ली, सोमर्ार, नर्म्बर 29, 2021/अग्रहायण 8, 1943 No. 618] NEW DELHI, MONDAY, NOVEMBER 29, 2021/AGRAHAYANA 8, 1943 भारतीय ररज़र् वबकैं अजधसचू ना मुम् बई, 10 नर्म् बर, 2021 प्रत्यय जर्षयक िानकारी कंपनी (सिं ोधन) जर्जनयमार्ली, 2021 स.ं DOR. SIG. FIN. No. 52140/20.16.050/2021-22.—प्रत्यय जर्षयक िानकारी कंपनी (जर्जनयमन) अजधजनयम, 2005 (2005 का अजधजनयम 30) की धारा 37 द्वारा प्रदत्त िजियों का प्रयोग करते हुए, भारतीय ररज़र्व बैंक प्रत्यय जर्षयक िानकारी कंपनी जर्जनयमार्ली, 2006 म ें संिोधन करने के जलए जनम्नजलजखत जर्जनयम बनाता ह।ै 1. संजिप्त िीषवक और प्रारंभ (1) इन जर्जनयमों को प्रत्यय जर्षयक िानकारी कंपनी (संिोधन) जर्जनयमार्ली, 2021 कहा िा सकता ह।ै (2) र्े रािपत्र म ें उनके प्रकािन की तारीख स ेलाग ू होंगे। 2. जर्जनयम 3 का संिोधन प्रत्यय जर्षयक िानकारी कंपनी जर्जनयमार्ली, 2006 म,ें जर्जनयम 3 म,ें खंड (i) के तुरंत बाद, जनम्नजलजखत को खंड (िे) के रूप म ें िोडा िाएगा, अर्ावत:् "(ि)े ऋण संस्ट्र्ानों के समर्वन या लाभ के जलए सूचना के प्रसस्ट्ं करण म ें लगी एक इकाई, और समय-समय पर ररज़र्व बैंक द्वारा जनधावररत मानदडं ों को पूरा करें”. सौरभ जसन्हा, कायवपालक जनदिे क [जर्ज्ञापन-III/4/असा./455/2021-22] 6892 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] फुटनोट : प्रत्यय जर्षयक िानकारी कंपनी जर्जनयमार्ली, 2006 ददनांक 14 ददसंबर 2006 के भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप-खंड (i), िीएसआर 754 (अ), के तहत प्रकाजित दकए गए र् े और बाद म ें भारत के रािपत्र, असाधारण, भाग III, खंड 4 में प्रकाजित ददनांक 11 अगस्ट्त 2017 की अजधसूचना द्वारा संिोजधत दकया गया। RESERVE BANK OF INDIA NOTIFICATION Mumbai, the 10th November, 2021 THE CREDIT INFORMATION COMPANIES (AMENDMENT) REGULATIONS, 2021 No. DOR. SIG. FIN. No. 52140/20.16.050/2021-22.—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 commencement (Amendment) Regulations, 2021. (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 immediately after Clause (i), the following shall be inserted as Clause (j), namely, "(j) an entity engaged in the processing of information, for the support or benefit of credit institutions, and satisfying the criteria laid down by the Reserve Bank from time to time”. SAURAV SINHA, Executive Director [ADVT.-III/4/Exty./455/2021-22] Foot Note : 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 December 14, 2006 and subsequently amended vide Notification dated August 11, 2017, published in Gazette of India, Extraordinary, Part III, section 4. 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.

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