In this Act, unless the context otherwise requires,—

(a) “board” means the Board of directors of a credit information company;

(b) “borrower” means any person who has been granted loan or any other credit facility by a credit institution and includes a client of a credit institution;

(c) “client” includes—

(d) “credit information” means any information relating to—

(e) “credit information company” means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under sub-section (2) of section 5;

(f) “credit institution” means a banking company and includes—

(g) “credit scoring” means a system which enables a credit institution to assess the credit worthiness and capacity of a borrower to repay his loan and advances and discharge his other obligations in respect of credit facility availed or to be availed by him;

(h) “notification” means a notification published in the Official Gazette of India;

(i) “prescribed” means prescribed by rules made under this Act;

(j) “regulations” means regulations made by the Reserve Bank under this Act;

(k) “Reserve Bank” means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934);

(l) “specified user” means any credit institution, credit information company being a member under sub-section (3) of section 15, and includes such other person or institution as may be specified by regulations made, from time to time, by the Reserve Bank for the purpose of obtaining credit information from a credit information company;

(m) words and expressions used herein and not defined in this Act but defined in the Reserve Bank of India Act, 1934 (2 of 1934) or the Banking Regulation Act, 1949 (10 of 1949) or the Companies Act, 1956 (1 of 1956) shall have the meanings respectively assigned to them in those Acts.