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Customers' personal information should be kept confidential unless they have offered specific consent to the financial services provider or such information is required to be provided under the law or it is provided for a mandated business purpose (for example, to credit information companies). The customer should be informed upfront about likely mandated business purposes. Customers have the right to protection from all kinds of communications, electronic or otherwise, which infringe upon their privacy. In pursuance of the above Right, bank will –

  • i) Treat customer's personal information as private and confidential (even when the customer is no longer banking with us), and, as a general rule, not disclose such information to any other individual/institutions including it's subsidiaries / associates, tie-up institutions etc. for any purpose unless
    • a. The customer has authorized such disclosure explicitly in writing
    • b. Disclosure is compelled by law / regulation
    • c. Bank has a duty to the public to disclose i.e. in public interest
    • d. Bank has to protect its interests through disclosure
    • e. It is for a regulatory mandated business purpose such as disclosure of default to credit information companies or debt collection agencies
  • ii) Ensure such likely mandated disclosures be communicated immediately to the customer in writing
  • iii) Shall not use or share customer's personal information for marketing purpose, unless the customer has specifically authorized it;
  • iv) Shall adhere to Telecom Commercial Communications Customer Preference Regulations, 2010 (National Customer Preference Registry) issued by Telecom Regulatory Authority of India, while communicating with customers.