Section 34A(1) in The Banking Regulation Act, 1949
(1)Notwithstanding anything contained in section 11 of the Industrial Disputes Act, 1947 (14 of 1947), or any other law for the time being in force, no banking company shall, in any proceeding under the said Act or in any appeal or other proceeding arising therefrom or connected therewith, be compelled by any authority before which such proceeding is pending to produce, or give inspection of, any of its books of account or other document or furnish or disclose any statement or information, when the banking company claims that such document, statement or information is of a confidential nature and that the production or inspection of such document or the furnishing or disclosure of such statement or information would involve disclosure of information relating to-(a)any reserves not shown as such in its published balance-sheet; or(b)any particulars not shown therein in respect of provisions made for bad and doubtful debts and other usual or necessary provisions.
