(1)

For the purpose of enabling the Bank to dis­charge its functions under this Chapter, it may at any time direct any banking company to submit to it such statements relat­ing to such credit information and in such form and within such time as may be specified by the Bank from time to time.

(2)

A banking company shall, notwithstanding anything to the contrary contained in any law for the time being in force on in any instrument regulating the constitution thereof or in any agreement executed by it, relating to the secrecy of its deal­ings with its constituents, be bound to comply with any direction issued under sub-section (1).