On June 27, 2014, the Reserve Bank of India (“RBI”) had issued a circular (“2014 Circular”) prescribing a uniform data format (“Reporting Format”) for furnishing of credit information to credit information companies (“CICs”).
The Reporting Format had two annexures viz Annex-I and Annex-II:
On October 14, 2021, the RBI issued a notification (“Notification”) mandating compliance with the 2014 Circular, particularly the Reporting Format.
The salient features of the Notification include the following:
Please find a copy of the 2014 Circular, here and a copy of the Notification, here.
This update has been contributed by Anurag Prasad (Associate).
Argus Knowledge Centre is now on WhatsApp! Send us a message on +91 8433523504 to receive updates from our Knowledge Centre.
7A, 7th Floor, Tower C, Max House,
Okhla Industrial Area, Phase 3,
New Delhi – 110020
The rules of the Bar Council of India do not permit advocates to solicit work or advertise in any manner. This website has been created only for informational purposes and is not intended to constitute solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work in any manner. By clicking on 'Agree' below, you acknowledge and confirm the following:
a) there has been no solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
b) you are desirous of obtaining further information about us on your own accord and for your use;
c) no information or material provided on this website is to be construed as a legal opinion and use of this website will not create any lawyer-client relationship;
d) while reasonable care has been taken in ensuring the accuracy of the contents of the website, Argus Partners shall not be responsible for the results of any actions taken on the basis of information provided in this website or for any error or omission in the website; and
e) in cases where the user has any legal issues, the user must seek independent legal advice.