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Section 44: Obligation as to fidelity and secrecy.

The State Bank of India Act, 1955Central Act · Act 23 of 1955

(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.

(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005 (30 of 2005).]

Where this provision sits

ActThe State Bank of India Act, 1955
Section44
Marginal noteObligation as to fidelity and secrecy.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 30 of 2005. . Ins. by Act 30 of 2005, s. 34 and the Schedule (w.e.f. 14-12-2006).

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