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 corresponding new bank constituted by section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), and any other financial institution notified by the Central Government in this behalf]; | |
| (b) | “borrower” means any person to whom any credit limit has been sanctioned by any banking company, whether availed of or not, and includes— |
| (i) | in the case of a company or corporation, its subsidiaries; | |
| (ii) | in the case of a Hindu undivided family, any member thereof or any firm in which such member is a partner; | |
| (iii) | in the case of a firm, any partner thereof or any other firm in which such partner is a partner; and | |
| (iv) | in the case of an individual, any firm in which such individual is a partner; |
| (c) | “credit information” means any information relating to— |
| (i) | the amounts and the nature of loans or advances and other credit facilities granted by a banking company to any borrower or class of borrowers; | |
| (ii) | the nature of security taken from any borrower [or class of borrowers] for credit facilities [granted to him or to such class;] | |
| (iii) | the guarantee furnished by a banking company for any of its customers [or any class of its customers;] | |
| [(iv) | the means, antecedents, history of financial transactions and the creditworthiness of any borrower or class of borrowers; | |
| (v) | any other information which the Bank may consider to be relevant for the more orderly regulation of credit or credit policy.] |
