April 8, 2025

Penalties Lorem ipsum dolor sit amet, consectetur adipiscin[Omitted by the Reserve Bank of India (Amendment) Act, 1974.]]g elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Certain claims for compensation barred No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions of this Chapter.

Disclosure of information prohibited (1) Any credit information contained in any statement submitted by a banking company under section 45C or furnished by the Bank to any banking company under section 45D, shall be treated as confidential and shall not, except for the purposes of this Chapter, be published or otherwise disclosed. (2) Nothing in

Procedure for furnishing credit information to banking companies (1) A banking company may, in connection with any financial arrangement entered into or proposed to be entered into by it, with any person, make an application to the Bank in such form as the Bank may specify requesting it to furnish the applicant with such credit

Power to call for returns containing credit information (1) For the purpose of enabling the Bank to discharge its functions under this Chapter, it may at any time direct any banking company to submit to it such statements relating to such credit information and in such form and within such time as may be specified

Power of Bank to collect credit information The Bank may— (a)   collect, in such manner as it may think fit, credit information from banking companies; and (b)   furnish such information to any banking company in accordance with the provisions of section 45D

Definitions In this Chapter, unless the context otherwise requires,— (a)   “banking company” means a banking company as defined in section 5 of the Banking [Regulation] Act, 1949 (10 of 1949), and includes the State Bank of India [any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), any

Appointment of agents (1) Unless otherwise directed by the Central Government with reference to any place, the Bank may, having regard to public interest, convenience of banking, banking development and such other factors which in its opinion are relevant in this regard, appoint the National Bank, or the State Bank, or a corresponding new bank

Power to require returns from co-operative banks  [Omitted by the Banking Laws (Application to Co-operative Societies) Act, 1965, w.e.f. 1-3-1966. Earlier, it was amended by the Reserve Bank of India (Amendment) Act, 1951, w.e.f. 1-11-1951.]