Section 30 – The Export-Import Bank of India Act,1981

The Export-Import Bank of India Act,1981

30. Obligation as to fidelity and secrecy.

(1) The Exim Bank 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 Exim Bank to divulge such information.

(2) The Exim Bank may, for the purpose of efficient discharge of its functions under this Act, collect from, or furnish to, the Central Government, the Development Bank or any scheduled bank or such other financial institution, as may be notified in the Official Gazette by the Central Government in this behalf, credit information or other information as it may consider useful for the purpose, in such manner and at such times, as it may think fit.

Explanation. – For the purpose of this sub-section, the expression “credit information” shall have the same meaning as in clause (c) of section 45A of the Reserve Bank of India Act,1934,( 2 of 1934.)subject to the modification that “banking company” referred to therein shall mean the Development Bank, any scheduled bank or other financial institution as aforesaid.

(3) Every director, member of a committee, auditor or officer or other employee of the Exim Bank or of the Development Bank whose services are utilized by the Exim 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.

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

1. Ins. by Act No. 30 of 2005 w.e.f. 23-6-2005.

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