Section 45A. Definitions

45A. Definitions.— In this Chapter, unless the context otherwise requires, — (a) "banking company" means a banking company as defined in section 5 of the[3] [Banking Regulation Act, 1949 (10 of 1949)] and includes the State Bank of India,[4] [any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), any corresponding new bank constituted by section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 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 or 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[5] [or class of borrowers] for credit facilities 6[granted to him or to such class;] (iii) the guarantee furnished by a banking company for any of its customers[5] [or any class of its customers]; 1. Subs. by Act 61 of 1981, s. 61 and the Second Schedule, for section 45 (w.e.f. 12-7-1982). 2. Ins. by Act 35 of 1962, s. 6 (w.e.f. 1-9-1962). 3. Subs. by Act 51 of 1974, s. 3, for "Banking Companies Act, 1949" (w.e.f. 13-12-1974). 4. Subs. by s. 13, ibid., for "or any other banking or financial institution notified by the Central Government in this behalf" (w.e.f. 13-12-1974). 5. Ins. by s. 13, ibid., (w.e.f. 13-12-1974). 6. Subs. by s. 13, ibid., for "granted to him; and" (w.e.f. 13-12-1974). 1[(iv) the means, antecedents, history of financial transactions and the creditworthiness 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.] - 45B. Power of Bank to collect credit information.— The Bank may— (a) collect, in such manner as it may think fit, credit information from banking companies; and (b) furnish such information to any banking company in accordance with the provisions of section 45D.