law: Credit Information Companies (Regulation) Act, 2005 
  16. Failure to become
  
  a member of a credit information company.- 
  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, the Reserve Bank suo
  
  moto or on a complaint from a credit information company may, direct such
  
  credit institution to take necessary steps within such time, as it may specify
  
  to become a member of a credit information company.
  1.     
  
  
  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.