Section 11(4) in The Credit Information Companies Regulations, 2006
(4)Length of preservation of personal data .-(i) Every credit information company and credit institution shall retain personal data collected, maintained and disseminated by them for a minimum period of seven years.(ii)Every credit information company and credit institution shall develop guidelines and procedures to be adopted by them, with the approval of the Reserve Bank, in respect of preservation and destruction of personal data.Explanation .-For the purpose of this regulation, "personal data" means such other data relating to an individual other than what a credit institution, or a credit information company, or a specified user, is permitted to collect as per the provisions of the rules made under the Act.
