Chapter IIIA — Collection and Furnishing of Credit Information

Section 45D: Procedure for furnishing credit information to banking companies

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 45D regulates how RBI may furnish credit information to banking companies and the conditions/process surrounding such requests.

Operative provisionOfficial sources mappedProvision-specific decode

Finin2min - Section 45D in 2 minutes

Legal effectSection 45D regulates how RBI may furnish credit information to banking companies and the conditions/process surrounding such requests.

Operative ruleA banking company seeking information must use the statutory procedure and purpose; RBI may impose conditions and recover charges where the section permits.

Connected lawThe section does not override Section 45E's restrictions on disclosure/use beyond the permitted framework.

File evidenceBefore using received information, record the request, RBI response, conditions and authorised purpose.

Statutory structure and clause / subsection decode

This map separates the operative limbs of this provision so thresholds, powers, conditions and exceptions are not collapsed into a single summary.

Rule 1

A banking company seeking information must use the statutory procedure and purpose

Rule 2

RBI may impose conditions and recover charges where the section permits.

Connected rule

The section does not override Section 45E's restrictions on disclosure/use beyond the permitted framework.

Worked practical example

Facts. A bank receiving credit information for a statutory credit assessment should not repurpose it for unrelated marketing if that falls outside the permitted use/conditions.

Compliance points and common mistakes

Do not decide the issue from the heading alone. Map the facts to the operative words of Section 45D and to each relevant subsection, clause, proviso or explanation shown above.
Keep the statutory question separate from the operational overlay. The section does not override Section 45E's restrictions on disclosure/use beyond the permitted framework.
Do not convert an exception, exemption or discretionary RBI/Government power into an automatic entitlement. Record the authority, conditions and effective date.
Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.

Connected provisions and instruments

Section 45D has no universal instrument dependency in this package. Add an RBI circular or direction only when its subject, entity and effective date cover the issue being analysed.

Questions and answers

What is the purpose of Section 45D?

Procedure for furnishing credit information to banking companies: Section 45D regulates how RBI may furnish credit information to banking companies and the conditions/process surrounding such requests.

Which statutory limb should be checked first?

Rule 1 - A banking company seeking information must use the statutory procedure and purpose

What is the next legal boundary?

Rule 2 - RBI may impose conditions and recover charges where the section permits.

What record should support the conclusion?

Section 45D file evidence: Before using received information, record the request, RBI response, conditions and authorised purpose.

Primary sources

Source control for Section 45D: use the official consolidated RBI Act for the statutory text and footnotes, then separately reconcile any post-Finance Act 2022 amendment, commencement notification or RBI instrument relevant to the event date.