BANKING AFFAIRS

Detailed explanation-1: -The obligation of the banker to keep secrecy of his customer’s accounts – except in circumstances noted above – continue even after the account is closed. If a banker discloses information unjustifiably, he shall be liable to his customer and the third party as follows: (a) Liabilities to the customer.

Detailed explanation-2: -It requires that the banker must not disclose the condition of his customer’s account except on reasonable and proper occasions and the obligation to observe secrecy does not end even with the closing of the customer’s account.

Detailed explanation-3: -Obligation to Maintain Secrecy of Customer’s Account. [cont’d]2]UnderExpressorImpliedConsentoftheCustomerIt is an implied term of contract between abanker and his customer that the banker will notdivulge the state of the customer’s account tothird parties, without the express or impliedconsentof the customer.