Section 44
Obligation as to fidelity and secrecy.
The National Housing Bank Act, 1987
About this Act
An Act to establish a bank to be known as the National Housing Bank to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions and for matters connected therewith or incidental thereto.
(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.]
(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.]
Notes
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).
2. Ins. by Act 30 of 2005, s. 34 and th e Schedule (w.e.f. 14-10-2006).