The Credit Information Companies (Regulation) Act, 2005 was thus enacted3 with a view to providing necessary legislative support to the business of credit information and for the regulation of credit information companies and to  1  At present, the data relating to non-suit filed accounts for the above lists are being disseminated by RBI to banks and FIs for their confidential use whereas the lists pertaining to suit-filed cases are in the public domain as published by the Credit Information Companies.
2  Report of the Working Group to explore the possibilities of setting up a Credit Information Bureau, Oct 1999  3  Statement of Objects and Reasons – Credit Information Companies (Regulation) Act 2005  4  BIS central bankers’ speeches  facilitate efficient distribution of credit.