Amendment status not verified — confirm the current text below against the official source.
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];