Bare Act Search Results

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Chapter V

Title: Miscellaneous

State: Central

Year: 1961

.....1. Inserted by Act 21 of 1978, Section. 8(21) (w.e.f. 15-7-78). 2. Inserted by Act 56 of 1968, Section 12. 3. Substituted for "Banking Companies Act, 1949", by Act 56 of 1968, Section 2. 4. Substituted for words "neither the bank inspected or investigated nor any other bank", by Act 21 of 1978, Section. 8(21) (w.e.f. 15-7-78). Section 37 - Corporation To Furnish Information To Reserve Bank The Corporation shall, one a request in writing from the Reserve Bank, furnish to it within such time as may be specified by the Reserve Bank, such statement and information relating to the business or affairs of the Corporation or of an insured bank as the Reserve Bank may consider necessary or expedient. Section 38 - Reserve Bank To Furnish Information To Corporation The Reserve Bank shall, on a request in writing from the Corporation, furnish to it any report or information relating to an insured bank1[or a credit instituting] made or obtained by it under or in pursuance of the Reserve Bank of India Act, 1934 or2[the Banking Regulation Act; 1949.] _______________________ 1. Inserted by Act 21 of 1978, Section. 8(22) (w.e.f. 15-7-78). 2. Substituted by Act 56 of 1968,.....

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Section 39

Title: Declaration of Fidelity and Secrecy

State: Central

Year: 1961

1[(1) Every director, auditor, officer or other employee of the Corporation or an employee of the Reserve Bank whose services are utilized 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. 2"(3) Nothing contained in this section shall apply to the credit information disclosed under the Credit Information Companies (Regulation) Act, 2005.". __________________________ 1. Section 39 renumbered as sub-section (1), thereof and sub-section (2) inserted by Act 21 of 1978, Section. 8(23) (w.e.f. 15-7-78). 2. Inserted vide Credit Information Companies (Regulation) Act, 2005

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Amending Act 2

Title: Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978

State: Central

Year: 1961

.....of 1956, or in any other law forthe time being in force. 8. Amendment of the Deposit Insurance corporation Act, 1961 On the commencement of this Act, the Deposit Insurance Corporation Act, 1961 (47 of 1961), shall have effect subject to the following amendments, namely:-- (1) in the long title, after the words "insurance of deposits", the words "and guaranteeing of credit facilities" shall be inserted; (2) in section 1, in sub-section (1), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (3) in section 2,-- (i) in clause (e), for the words "the Deposit Insurance Corporation", the words "the Deposit Insurance and Credit Guarantee Corporation" shall be substituted; (ii) after clause (ee), the following clause shall be inserted, namely: -- '(eea) "credit institution" means all or any of the following, namely: -- (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution;'; (iii) after clause (hh), the following clause shall be inserted, namely:-- '(hha) "financial institution" means any.....

Deposit Insurance and Credit Guarantee Corporation Act, 1961 Complete Act

State: Central

Year: 1961

.....exclude the Madras Industrial Investment Corporation Ltd. which, although it is technically a banking company as defined in the Banking Companies Act. Performs actually the functions of a State Financial Corporation." - S.O.R. (c) "Board" means the Board of Directors constituted under section 6-; (d) "company" means any company as defined in section 3 of the Companies Act, 1956-and includes a foreign company within the meaning of section 561-of that Act; 6[(dd) "co-operative bank" means a State co-operative bank, a Central co-operative bank and a primary co-operative bank;] (e) "Corporation" means7[the Deposit Insurance and Credit Guarantee Corporation] established under section 3-; 8[(ee) "corresponding new bank" means a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970-or, as the case may be, under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980-;] 9[(eea) "credit institution" means all or any of the following, namely: - (i) a banking company; (ii) a corresponding new bank; (iii) a Regional Rural Bank; (iv) a co-operative bank; (v) a financial institution];.....