3 Review(s)

Credit Information Companies (Regulation) Act 2005, with Rules [Bare Act with Section Notes] by Taxmann, is an authoritative compendium on the statutory framework governing credit information companies (CICs) in India. Fully updated to reflect every amendment, allied rule, regulation and judicial development up to 2025, this Edition consolidates the principal Act, the Credit Information Companies Rules 2006 and the Credit Information Companies Regulations 2006, enriched by detailed section-wise notes, case-law extracts and a subject index. It provides readers with a single, reliable source for interpreting obligations, rights and enforcement mechanisms surrounding the collection, processing and dissemination of credit data. This book is intended for the following audience: (i) Banks, NBFCs & Credit Institutions – Compliance with mandatory membership, reporting and privacy obligations under the Act (ii) Credit Information Companies – Day-to-day reference for registration, capital adequacy, governance and inspection requirements (iii) FinTechs, Credit Rating Agencies & Other Specified Users – Understanding permissible access, usage limits and penalties for misuse of credit data (iv) Legal Practitioners & Judiciary – Ready citation of statutory text, rules, RBI directions and landmark judgments for litigation and advisory (v) Policy Analysts & Academicians – Research on data-privacy principles, systemic risk management and regulatory architecture of India's credit market The Present Publication is the 2025 Edition, covering the amended and updated text of the Credit Information Companies (Regulation) Act [Act No. 30 of 2005] and Rules, with the following noteworthy features: (i) [Complete Statutory Text] Incorporates the CIC Act 2005, Rules 2006, and Regulations 2006 in full, as amended through 2025 (ii) [Pre-amendment Provisions] Incorporates the text of provisions as they existed prior to the amendment in the respective amendment footnotes, enabling the reader to understand the legal position before the amendment and its applicability during the pre-amendment period (iii) [Section-wise Expert Notes] Concise commentary explains legislative intent, RBI directives and compliance red flags (iv) [Latest Case Law] Select High-Court and Supreme-Court rulings on wilful-defaulter declarations, privacy claims and penalty powers (v) [Subject Index & Cross-references] Pin-point navigation across chapters, rules and allied enactments (RBI Act, BR Act, SEBI, IBC) (vi) [User-centric Aids] Summaries of borrower rights (access & correction), inspection powers, arbitration route under section 18, and privacy principles under section 20 (vii) [Practice-ready Formatting] Wide margins for annotations; section notes cite RBI Master Directions and FAQs (viii) [Regulatory Update Pointers] Margin flags identify provisions impacted by the Insolvency & Bankruptcy Code, IFSC Authority Act and latest RBI circulars The structure of the book is as follows: (i) Bare Act Text with Parallel Section Notes – Each statutory provision is reproduced in full, followed directly by a concise, aligned Section Note so that the reader can consult the commentary without losing place in the Bare Act (ii) Rules & Regulations – Presented after the Act with aligned procedural forms (Appeal Form I, Fidelity Declaration Form III) (iii) Subject Index – Alphabetical index cross-tagged to section numbers (iv) Navigation Aids – Clear chapter headings, a detailed subject index and cross-references that group allied provisions (e.g., Registration, Management, Functions, Privacy, Audit, Penalties, Miscellaneous, Schedule)