Section 44
Obligation as to fidelity and secrecy.
The State Bank of India Act, 1955
About this Act
An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.
(1) The State 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
State Bank to divulge such information.
(2) Every director, member of a Local Board or of a Local Committee, auditor, adviser, officer or other employee of the State Bank shall, before entering upon his duties, make a declaration of fidelity and secrecy as in the form set out in the Second Schedule.
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 Local Board or of a Local Committee, auditor, adviser, officer or other employee of the State Bank shall, before entering upon his duties, make a declaration of fidelity and secrecy as in the form set out in the Second Schedule.
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. 34 and the Schedule (w.e.f. 14-12-2006).