Definition of bank expanded

S.O. 3418(E).—In the notification of the Government of India, Ministry of Finance, Department of Economic Affairs, published vide number S.O. 3407 (E), dated the 8th November, 2016, in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii) —

(i) in sub-paragraph (1) of paragraph 1, for “banking company defined under the Banking Regulation Act, 1949 (10 of 1949)”, read “banking company, co-operative bank, corresponding new bank, subsidiary bank, regional rural bank and the State Bank of India as defined under the Banking Regulation Act, 1949 (10 of 1949) (hereinafter referred to as ‘banking company’ or ‘bank’)”;

(ii) in paragraph 2, for “public sector banks, private sector banks, foreign banks, Regional Rural Banks, Urban Cooperative Banks and State Co-operative Banks” read “bank referred to in sub-paragraph (1) of paragraph 1”.

[F. No. 10/03/2016-Cy.I]

Ministry of Finance

[Corrigendum dated 9th November, 2016]

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