law: Credit Information Companies (Regulation) Act, 2005 
  5. Grant of
  
  certificate of registration.- 
  1.     
  
    The
  
  Reserve Bank may, for the purpose of considering the application of a company
  
  for grant of a certificate of registration to commence or carry on the business
  
  of credit information, require to be satisfied, by an inspection of records or
  
  books of such company or otherwise that the following conditions are fulfilled,
  
  namely:- 
  a.     
  
    that
  
  the applicant company has minimum capital structure referred to in section 8;
  b.    
  
    that
  
  the general character of the management or the proposed management of the
  
  applicant company shall not be prejudicial to the interest of its specified
  
  users, clients or borrowers, or other credit information companies;
  c.     
  
    that
  
  any other condition, the fulfillment of which in the opinion of the Reserve
  
  Bank, shall be necessary to ensure that the commencement or carrying on of the
  
  business of credit information by the applicant company shall not be
  
  detrimental or prejudicial to the public interest or banking policy or credit
  
  system or its specified users or clients or borrowers or other credit information
  
  companies or others who would provide credit information to the credit
  
  information companies.
  1.     
  
  
  2.     
  
    The
  
  Reserve Bank may, after being satisfied that the conditions as referred to in
  
  sub-section (1) are fulfilled, grant a certificate of registration to the applicant
  
  company to commence or carry on the business of credit information, subject to
  
  such conditions which it may consider fit to impose and if the company fails to
  
  fulfill any of such conditions or any of the provisions of this Act, the
  
  application of the company shall be rejected: Provided that no application
  
  shall be rejected unless the applicant has been given an opportunity of being
  
  heard.
  3.     
  
    The
  
  Reserve Bank may, having regard to the available business of credit
  
  information, the potential and scope for expansion of existing credit
  
  information companies and other relevant factors, determine the total number of
  
  the credit information companies which may be granted the certificates of
  
  registration for carrying on the business of credit information:
  Provided that the total number of such credit
  
  information companies so determined may, on being satisfied by the Reserve
  
  Bank, that there is change in available business of credit information,
  
  potential and scope for expansion of existing credit information companies and
  
  other relevant factors relating thereto, be reviewed by the Reserve Bank.