Under Section 15 of the Credit Information Companies (Regulation) Act, 2005, a Regional Rural Bank (RR

Explanation: Section 15(1) of the CICRA, 2005 explicitly provides: "Every credit institution in existence on the commencement of this Act, before the expiry of three months from such commencement or within such extended period, as the Reserve Bank may allow on its application and subject to being satisfied about the reason for extension, shall become member of at least one credit information company." For entities established after the commencement (like the RRB in the question), Section 15(2) applies: "Every credit institution which comes into existence after the commencement of this Act, before the expiry of three months from its coming into existence, or within such extended period, as the Reserve Bank may allow on its application, shall become member of at least one credit information company." The statute clearly mandates membership (not voluntary), specifies a three-month window, and allows discretionary extension by RBI on justified application. The RRB's status as a regional/rural entity does NOT exempt it from this requirement. Thus, option (B) correctly applies Section 15(1)-(2).