Schedule 1 of The National Bank for Agriculture and Rural Development Act, 1981
THE FIRST SCHEDULE [See section 51(2)] DECLARATION OF FIDELITY AND SECRECY I do hereby declare that I will faithfully, truly and to the best of my skill and ability execute and perform the duties required of me as director, auditor officer or other employee (as the case may be) of the National Bank for Agriculture and Rural Development and which properly relate to the office or position held by me in the said National Bank. I further declare that I will not communicate or allow to be communicated to any person not legally entitled thereto any information relating to the affairs of the National Bank for Agriculture and Rural Development or to the affairs of any person having any dealing with the said National Bank nor will I allow any such person to inspect or have access to any books or documents belonging to or in the possession of the National Bank for Agriculture and Rural Development and relating to the business of the said National Bank or the business of any persons having any dealing with the said NationalBank. Signed before me (Signature)
Summary
- The First Schedule provides the exact words for a mandatory oath called the Declaration of Fidelity and Secrecy.
- By signing it, a person promises to faithfully and skillfully perform their job duties for the National Bank.
- The signer legally binds themselves not to share any internal information about the bank or its customers with unauthorized people.
- The signer also promises to stop unauthorized people from looking at or accessing the bank's books and documents.
- Under Section 51, this declaration must be signed by every director, committee member, auditor, and employee before they start their duties.
Practical examples
FAQ
1. Who is required to sign this document?
According to Section 51, all directors, committee members, auditors, and employees must sign it.
2. When exactly must they sign it?
They must make the declaration before entering upon their duties.
3. Does this mean the bank can never share information with anyone?
No, Section 51 provides exceptions, such as sharing data under the Credit Information Companies Act or when it is customary among bankers.
Test yourself
Q1.Under the First Schedule of The National Bank for Agriculture and Rural Development Act, 1981, what does the signer explicitly promise regarding the bank's books and documents?
Q2.Under the First Schedule of The National Bank for Agriculture and Rural Development Act, 1981, a declaration of fidelity and secrecy is provided. According to the cross-referenced Section 51, when must an auditor or employee make this declaration?
Q3.Under the First Schedule of The National Bank for Agriculture and Rural Development Act, 1981, signers promise strict secrecy. However, according to Section 51, this secrecy rule does not apply to information disclosed under which specific law?
Q4.Under the First Schedule of The National Bank for Agriculture and Rural Development Act, 1981, aside from the bank's own affairs, whose affairs is the signer also sworn to protect?