Lawgist44Obligation as to fidelity and secrecy
(1) The 1[National Housing Bank or the Reserve Bank, as the case may be,] shall not, except as otherwise required by this Act or any other law, divulge any information relating to, or to the affairs of, its constituents except in circumstances in which it is, in accordance with the law or practice and usage customary among bankers, necessary or appropriate for the 1[National Housing Bank or the Reserve Bank, as the case may be,] to divulge such information.
(2) Every director, member of a committee, auditor, adviser, officer or other employee of the National Housing Bank or of the Reserve Bank, whose services are utilised by the National Housing Bank under the provisions of this Act, shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form set out in the First Schedule to this Act.
2[(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.]
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1. Subs. by Act 23 of 2019, s. 168, for "National Housing Bank" (w.e.f. 09-08-2019).
2. Ins. by Act 30 of 2005, s. 34 and th e Schedule (w.e.f. 14-10-2006).
- 43 Staff of National Housing Bank
- 43A Delegation of powers
- 44 Obligation as to fidelity and secrecy
- 45 Defects in appointment not to invalidate acts, etc
- 45A Arrangement with National Housing Bank on appointment of directors to prevail
- 46 Protection of action taken under the Act
- 47 Indemnity of directors
- 47A Nomination in respect of deposits, bonds, etc
- 48 Explanation from tax on income
- 49 Penalties
- 50 Offences by companies
- 51 Cognizance of offences
- 52 Application of fine
- 52A Power of National Housing Bank and Reserve Bank to impose fin
- 53 Bankers’ Books Evidence Act 18 of 1891, to apply in relation to the National Housing Bank
- 54 Liquidation of National Housing Bank
- 54A Power to make rules
- 55 Power of the Board to make regulations
- 56 Amendment of certain enactments
- 57 Power to remove difficulties
