Standing Order No. 934/2010 of the Transport Department, Government of Maharashtra dated 3rd May, 2010 on the business of credit information [C1C-GTX]

Standing Order No. 934/2010

GOVERNMENT OF MAHARASHTRA

Transport Department, Government of Maharashtra

Mumbai, dated the 3rd May, 2010

STANDING ORDER

To

All Registrars of Moneylenders,

Subject: The business of credit information by credit information companies under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000, regarding.

In exercise of the powers conferred by section 9 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 (Maharashtra Act 16 of 2000), the Transport Department, Government of Maharashtra hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the business of credit information by credit information companies.

2. The matter has been examined. Every credit information company carrying on the business of credit information shall make an application in Form A to the Financial Redress Agency within twenty-one days, accompanied by a fee of five thousand rupees.

3. The Registrar of Moneylenders shall ensure that licence is dealt with as directed above, and shall report compliance to the Financial Redress Agency within twenty-one days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Transport Department, Government of Maharashtra.

(Secretary to Government)