Law:

Section:

Banking Companies Ordinance (LVII of 1962)------- --------Ss. 25-A & 93-C-------State Bank BCD Circular No. 6 of 1990-------State Bank BCD Circular No. 4 of 2013-------State Bank BCD Circular No. 8 of 2013-------Constitution of Pakistan, Art. 199--------Constitutional petition-------Power of State Bank to collect and furnish credit information-------Exchange of information-------Banking Control Department (BCD) Circulars-------Object and scope-------Petitioner, under present petition, sought direction to State Bank of Pakistan requiring it to remove name of the petitioner from the Credit Information Bureau (CIB/eCIB) list on the ground that his name had been arbitrarily placed in the list without issuing show cause notice to him and/or affording him any opportunity of hearing on the instigation of the respondent-Bank-------Validity-------Respondent-Bank had informed the State Bank of Pakistan about the financial status of the petitioner in compliance of Banking Control Department (BCD) Circular No. 6 of 1990-------State Bank had issued said Circular in exercise of its powers under S. 25-A of the Banking Companies Ordinance, 1962, read with S. 93-C of said Ordinance, which was followed by Circular No. 4 of 2013 and Circular No. 8 of 2013, on the basis of which the name of the petitioner had been placed on CIB; therefore, no constitutional provision had been violated-------Under said Circulars, a mechanism had been devised by the State Bank for collecting information from all Banks/NBFI's about their customers and their business status available with them-------Sole purpose of the BCD Circulars was to create one common source of information for all financial institutions from which they could collect the information about the financial status and conduct of transacting business of a particular customer/their customers with other Banks, in order to enable all the financial institutions to adopt their future course of business transaction with regard to advancing finance facilities to such customers, whose names appeared on the CIB list-------Only requirement of the BCD Circular No. 6 of 1990 was to intimate the authorities about default and liabilities of…

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