Section 6: Power of Reserve Bank to cancel certificate of registration

Q: What does Section 6 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) deal with?

Section 6 CICRA pertains to "Power of Reserve Bank to cancel certificate of registration". It is part of the The Credit Information Companies (Regulation) Act, 2005, a legislation enacted by the Parliament of India. Section 6 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs power of Reserve Bank to cancel certificate of registration. As verified on 19 May 2026.

Q: Is Section 6 CICRA still in force?

Yes, Section 6 of the The Credit Information Companies (Regulation) Act, 2005 is currently in force across the Republic of India.

Q: What is धारा 6 CICRA?

धारा 6 CICRA is the Devanagari Hindi reference for Section 6 of the The Credit Information Companies (Regulation) Act, 2005. Section 6 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs power of Reserve Bank to cancel certificate of registration. As verified on 19 May 2026.

Q: What is Dhara 6 CICRA?

Dhara 6 CICRA is the Roman Hindi reference for Section 6 of the The Credit Information Companies (Regulation) Act, 2005. "Dhara" means "Section" in Hindi. Section 6 of The Credit Information Companies (Regulation) Act, 2005 (CICRA) governs power of Reserve Bank to cancel certificate of registration. As verified on 19 May 2026.

Q: How to cite Section 6 of The Credit Information Companies (Regulation) Act, 2005?

Cite as: "Section 6, 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, § 6 (India).

Law on Tips Editorial Board

(1)

The Reserve Bank may cancel a certificate of registration granted to a credit information company under sub-section (2) of section 5 if such company,—

(i) ceases to carry on the business of credit information; or

(ii) has failed to comply with any of the conditions subject to which the certificate of registration has been granted to it; or

(iii) at any time fails to fulfil any of the conditions referred to in sub-clauses (a) to (c) of sub-section (1) or sub-section (2) of section 5; or

(iv) fails—

(a) to comply with the provisions of any law for the time being in force or any direction issued by the Reserve Bank under the provisions of this Act; or

(b) to submit or offer for inspection its books of account and other relevant documents when so demanded by the officers, persons or agency referred to in sub-section (1) of section 12.

(2)

Before cancelling the certificate of registration granted to a credit information company under this section on the ground that the company has failed to comply with the conditions specified in clauses (a) to (c) of sub-section (1) or sub-section (2) of section 5 or the provisions of any other law for the time being in force or directions issued under this Act, the Reserve Bank, shall grant time to such company on such terms as the Reserve Bank may deem appropriate for taking necessary steps to comply with such directions or provisions or fulfilment of such conditions, within such time:

Provided that if the Reserve Bank is of the opinion that the delay in cancelling the certificate of registration of such company shall be prejudicial or detrimental to the public interest or banking policy or credit system or borrowers or other credit information companies, the Reserve Bank may cancel the certificate of registration without granting time as provided in sub-section (2).

(3)

No order of cancellation of certificate of registration, granted to a credit information company, shall be made by the Reserve Bank unless such company has been given a reasonable opportunity of being heard.