BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Banks do not disclose affairs of customers account and maintain secrecy in terms of which of the following?
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BR Act Sec 27
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RBI Act Sec 17
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Banking companies ( Acquisition & Transfer of Undertakings) Act 1970 Sec 13 and implied contract
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Banking Secrecy Act Sec 43
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Explanation:
Detailed explanation-1: -(iii) By order of the Court under the Banker’s Books Evidence Act, 1891. When the court orders the banker to disclose information relating to a customer’s account, the banker is bound to do so.
Detailed explanation-2: -Answer and Explanation: The concept of a banker’s duty of secrecy explains that a banker should not reveal the personal information of his/her clients with other customers or any other third party. The bankers must uphold the confidentiality of their customers even after they close or end the relationships with banks.
Detailed explanation-3: -Primary Agricultural Credit Society and cooperative land mortgage banks are excluded from the Act.
There is 1 question to complete.