Section 25
Obligations as to fidelity and secrecy.
The Regional Rural Banks Act, 1976
About this Act
An Act to provide for the incorporation, regulation and winding up of Regional Rural Banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto.
(1) A Regional Rural Bank shall observe, except as
otherwise required by law, the practices and usages customary among bankers and, in particular, it shall
not 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 Regional Rural Bank to divulge.
(2) Every director, member of a committee or auditor, officer or other employee of a Regional Rural Bank shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form set out in the Schedule to this Act;
1 [(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005 (30 of 2005).]
(2) Every director, member of a committee or auditor, officer or other employee of a Regional Rural Bank shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form set out in the Schedule to this Act;
1 [(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005 (30 of 2005).]
Notes
1 Ins. by Act 30 of 2005, s. 2 and the Schedule (w.e.f. 23-6-2005).