Section Section 45D
4SC. Power to call for returns containing credit information.- (1) For the purpo
section 45D. 4SC. 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 by the Bank from time to time. (2) A banking company shall, notwithstanding anything to the contrary contained in any law for the time being in force on in any instrument regulating the constitution thereof Or in any agreement executed by it; relating to the secrecy of its dealings with its constituents, be bound to comply with any direction issued under sub-section (1). 45D. Procedure for furnishing credit information to banking companies. (1) A_ banking company may, in connection with any financial arrangement entered into O 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 information as may be specified in the application: (2) On receipt of an application under sub-section (Z), the Bank shall, as soon as may be, furnish the applicant with such credit information relating to the matters specified in the application, as may be in its possession: Provided that the information so furnished shall not disclose the names of the banking companies which have submitted such information to the Bank (3) The Bank may in respect of each application levy such fees, not exceeding twenty-five rupees, as it may deem fit for furnishing credit information. 4SE. Disclosure of information prohibited. 1) Any credit information contained in any statement submitted by banking company under
Roop's Law Assist