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RRBs Must Join Credit Information Companies (2013 Circular)

Current · Source: Reserve Bank of India · RBI/2013-14/157 · issued 23 Jul 2013 · ~1 min read
Quick answerRBI has flagged that many RRBs still haven't joined any Credit Information Company (CIC) as required under the 2005 Act. Immediate action is needed to take membership and start submitting credit data to at least one CIC.
The rule, in the simplest words
How it plays out — a real example

A credit & lending officer in a rural RRB branch in Madhya Pradesh checks her bank's records and sees they never joined a CIC. She calls the head office to start the membership process immediately, so they can start sharing loan data and avoid RBI penalties.

What changed

RBI issued a circular on July 23, 2013, reminding all RRBs of their statutory obligation under Section 15(1) of the Credit Information Companies (Regulation) Act, 2005 to become a member of at least one CIC. The circular notes that despite earlier instructions in 2009, a large number of RRBs remain non-compliant.

What it means for you

RRBs must urgently comply with the law by enrolling with a CIC and furnishing credit data in the required format. Non-compliance could invite regulatory action. This move strengthens credit information sharing, helping lenders assess borrower risk more accurately.

What you must do

Who it affects

All Regional Rural Banks (RRBs)

❓ Common questions

Why is RBI insisting RRBs join a CIC now?

RBI found that many RRBs still haven't complied with the 2005 Act's requirement to be a member of at least one CIC. This circular is a firm reminder to take immediate action.

What happens if an RRB does not comply?

The circular does not specify penalties, but as a statutory requirement, continued non-compliance may invite regulatory action from RBI.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/157 RPCD.CO.RRB.BC.No.14/03.05.33/2013-14 July 23, 2013 The Chairman All Regional Rural Banks (RRBs) Dear Sir, Credit Information Companies (Regulation) Act, 2005 – Compliance Please refer to our circular RPCD.CO.RRB.No.32/03.05.33/2009-10 dated October 20, 2009 advising RRBs, that in terms of Section 15(1) of Credit Information Companies (Regulation) Act 2005, every credit institution has to become a member of at least one Credit Information Company within a period of three months from commencement of the Act or any extended time allowed by the Reserve Bank on application. 2. As RRBs are also credit institutions as defined in sub-section (f) of Section 2 of the Act, they would be required to take membership of at least one credit information company and provide credit data in the format as required by the Credit Information Company (CIC). 3. However, it has come to our notice that a large number of RRBs are not members of any Credit Information Company as required under the Act. Therefore immediate steps may be taken by RRBs to become members of at least any one CIC. 4. Please acknowledge receipt to our Regional Office concerned. Yours faithfully, (A.G.Ray) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/157 · issued 23 Jul 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Who does what — compliance checklist
🏦 Branch Manager
  • Review compliance status across all branches to avoid any gaps.
📜 Compliance
  • Immediately apply for membership with at least one Credit Information Company if not already a member.
  • Ensure credit data is submitted in the format prescribed by the chosen CIC.
  • Acknowledge receipt of this circular to your respective RBI Regional Office.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All Regional Rural Banks (RRBs)), your first concrete step on “RRBs Must Join Credit Information Companies (2013 Circular)” is: “Immediately apply for membership with at least one Credit Information Company if not already a member.” (RBI issued this 23 Jul 2013).

  1. Circular: RBI/2013-14/157 -- RRBs Must Join Credit Information Companies (2013 Circular)
  2. Issued: 23 Jul 2013
  3. Action required: Immediately apply for membership with at least one Credit Information Company if not already a member.
  4. Action required: Ensure credit data is submitted in the format prescribed by the chosen CIC.
  5. Action required: Acknowledge receipt of this circular to your respective RBI Regional Office.
  6. Action required: Review compliance status across all branches to avoid any gaps.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

💬 Banker Discussion

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BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8266&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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