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Bare acts > Reserve Bank of India Act, 1934 > Section 45A
 
    


45A. 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], and includes the State Bank of India, any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959, any corresponding new bank constituted by section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 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 of 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 credit worthiness 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.

 

 

 

 

 

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