Section 24(2) in The Credit Information Companies Rules, 2006
(2)Without prejudice to the generality of the policy as formulated and procedure as adopted under sub-rule (1), every credit information company shall include in its such policy and procedure, the following, namely:-(a)it would have tested and documented internal system for evidencing robust matching levels which may in case of need be used also to provide requisite evidence and necessary examples to the Reserve Bank;(b)the procedure and parameters for verifying and providing certificate to the effect that the entire data, information and credit information, obtained and received by them, from a member credit institution, a credit information company, or from any other permissible source, as the case may be, in respect of their borrower, or client, has been collated without any distortion thereof and such data, information and credit information maintained by them is accurate, updated and complete with reference to the date of such certification by the credit institution, or the credit information company, by whom such data, information and credit information has been provided;(c)the procedure for making a notation in such data, information and credit information obtained and received by them from a member credit institution, or from any other permissible source, as the case may be and maintained by them in respect of their borrower or client which is not updated on the date of carrying out necessary verification and certification as per clause (b) with reference to the date up to which the same was certified by credit institution or the credit information company to be accurate, updated and complete.
