Section 19 in The Credit Information Companies Rules, 2006
19. Collection of data and maintaining credit information
(1)A credit institution shall-(a)collect all such relevant data in respect of its borrower or client, as it may deem necessary and appropriate for maintaining an accurate and complete data, information and credit information in respect of such borrower or client; and(b)use such data, information and credit information subject to the provisions of the Act.(2)Without prejudice to the generality of the policy and procedure to be adopted as per rule 18 and sub-rule (1) with respect to collection and maintaining of data, information and credit information in relation to its borrower and client, a credit institution shall also collect all relevant and authentic available data and information as per Form II for preparing, maintaining credit information in relation to them and for establishing their identity.
