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Credit Information Companies (Regulation) Act, 2005 · Section guide

Section 16 — Failure to become a member of credit information company

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Chapter VFunctions of credit information companies

What this section provides

RBI may direct a credit institution that is not a member of any CIC to become a member within a specified time. Continued failure may be communicated to another authority for further action, without prejudice to remedies under the Act. The provision makes CIC membership a supervisory obligation, not merely a commercial arrangement.

← Section 15 — Credit institution to be member of a credit information cSection 17 — Collection and furnishing of credit information →

Finin2min summary — explanatory text. The official Act, Rules, Regulations and notifications control if there is any difference. Educational and research resource, not legal, regulatory, tax or investment advice; verify the instrument in force on the relevant date.