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Section 44 – The State Bank of India Act,1955

The State Bank of India Act,1955

Section 44. Obligation as to fidelity and secrecy

(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.]

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

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The State Bank of India Act,1955

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