RBI amends Credit Information Companies Regulations, 2006; expands the scope of specified users
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- Last Updated on 2 December, 2021
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Notification No. 52140/20.16.050/2021-22. Dated: 10.11.2021
The Reserve Bank of India has made an amendment to regulation 3 of Credit Information Companies Regulations, 2006 which prescribes criteria for specified users. As per revised norms, 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 shall also be regarded as a ‘specified user’. A specified user collects data, information, or credit information in respect of a borrower, or a client.
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