Section 16: Failure to become a member of a credit information company

Q: What does Section 16 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) deal with?

Section 16 CICRA pertains to "Failure to become a member of a credit information company". It is part of the The Credit Information Companies (Regulation) Act, 2005, a legislation enacted by the Parliament of India. Section 16 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs failure to become a member of a credit information company. As verified on 19 May 2026.

Q: Is Section 16 CICRA still in force?

Yes, Section 16 of the The Credit Information Companies (Regulation) Act, 2005 is currently in force across the Republic of India.

Q: What is धारा 16 CICRA?

धारा 16 CICRA is the Devanagari Hindi reference for Section 16 of the The Credit Information Companies (Regulation) Act, 2005. Section 16 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs failure to become a member of a credit information company. As verified on 19 May 2026.

Q: What is Dhara 16 CICRA?

Dhara 16 CICRA is the Roman Hindi reference for Section 16 of the The Credit Information Companies (Regulation) Act, 2005. "Dhara" means "Section" in Hindi. Section 16 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs failure to become a member of a credit information company. As verified on 19 May 2026.

Q: How to cite Section 16 of The Credit Information Companies (Regulation) Act, 2005?

Cite as: "Section 16, The Credit Information Companies (Regulation) Act, 2005 (CICRA)" in legal briefs. For academic writing, use the BlueBook format: The Credit Information Companies (Regulation) Act, 2005, § 16 (India).

Law on Tips Editorial Board

(1)

Where a credit institution—

(a) abstains from becoming a member of at least one credit information company; or

(b) at any time is not a member of any credit information company,

(2)

In case a credit institution fails to comply with the directions of the Reserve Bank under sub-section (1), to become member of at least one credit information company, the Reserve Bank may, without prejudice to the provisions of this Act, intimate such failure to any other authority for taking such action as it may deem fit.