2[(1)] Every director, auditor, officer or other employee of the Corporation or an employee of the Reserve Bank whose services are utilised by the Corporation under sub-section (2) of section 33 shall, before entering upon his duties, make a declaration of fidelity and secrecy in the form set out in the First Schedule to this Act.
1[(2) The Corporation shall observe, except as otherwise required by law, the practices and usages customary among the bankers, and, in particular, it shall not divulge any information relating to an insured bank or its customers or a credit institution or its customers except in circumstances in which it is, in accordance with law or practices or usages customary among bankers, necessary or appropriate for the Corporation to divulge such information.]
3[(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.]
1[(2) The Corporation shall observe, except as otherwise required by law, the practices and usages customary among the bankers, and, in particular, it shall not divulge any information relating to an insured bank or its customers or a credit institution or its customers except in circumstances in which it is, in accordance with law or practices or usages customary among bankers, necessary or appropriate for the Corporation to divulge such information.]
3[(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.]
Source footnotes
1. Ins. by Act 21 of 1978, s. 8 (w.e.f. 15-7-1978).2. Section 39 re-numbered as sub-section (1) thereof by s. 8, ibid. (w.e.f. 15-7-1978).
3. Ins. by Act 30 of 2005, s. 34 and the Schedule (w.e.f. 14-12-2006).
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Section 1 · Short title, extent and commencement.Section 2 · Definition.Section 3 · Establishment and incorporation of Deposit Insurance Corporation.Section 4 · Capital of Corporation.Section 5 · Management of Corporation.Section 6 · Board of directors.Section 7 · Meetings of Board.Section 8 · Committees of Corporation.India Code, Government of India. Text fetched 22 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.