Lawgist29Obligations as to fidelity and secrecy
(1) Every credit information company shall observe, except as otherwise required by law, the practices and usages customary among credit information companies and it shall not divulge any information relating to, or to the affairs of, its members or specified users.
(2) Every chairperson, director, member, auditor, adviser, officer or other employee of a credit information company shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form, as may be prescribed in this regard.
Explanation.--For the purposes of this section and section 30, the terms "practices and usages customary" means such practices and usages which, are generally followed by credit information companies or may develop in due course in relation to their functions, in pursuance of the provisions of this Act, rules and regulations made and directions issued thereunder from time to time in pursuance thereof.
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- 27 Power of Reserve Bank to specify maximum amount of fees
- 28 Disclosure of information before any court or tribunal or authority
- 29 Obligations as to fidelity and secrecy
- 30 Protection of action taken in good faith
- 31 Bar of jurisdiction
- 32 Power of Reserve Bank to exempt in certain cases
- 33 Application of other laws not barred
- 34 Amendment of certain enactments
- 35 Removal of difficulties
- 36 Power to make rules
- 37 Power of Reserve Bank to make regulations THE SCHEDULE
