Reserve Bank of India Act,1934
Act No : 2
Section : Definitions
2. Definitions. In this Act, unless there is anything repugnant in the subject or context,-- 2* * * * * 2* * * * * 3*[(aii)] "the Bank" means the Reserve Bank of India constituted by this Act;] 6*[(aiii) "Bank for International Settlements" means the body corporate established with the said name under the law of Switzerland in pursuance of an agreement dated the 20th January, 1930, signed at The Hague;] (b) "the Central Board" means the Central Board of Directors of the Bank; 8* * * * * 8* * * * * ---------------------------------------------------------------------- 1. Subs. by the M.O. 1937, for "G.G. in C.". 2. Omitted by Act 61 of 1981, s. 61 & sec. Sch. (w.e.f. 12-7-1982). 3. Re-lettered by Act 23 of 1965, s. 2 (w.e.f. 1-3-1966). 4. Ins. by Act 51 of 1974, s. 2. 9 1* * * * * 1* * * * * 1* * * * * 2*[3*(bvi)] "Deposit Insurance Corporation" means the Deposit Insurance Corporation established under section 3 of the Deposit Insurance Corporation Act, 1961 (47 of 1961);] 4*[3*[(bvii)] "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (13 of 1964);] 8* * * * * 5*[(bviiia) "Exim Bank" means the Export-Import Bank of India established under the Export-Import Bank of India Act, 1981 (28 of 1981)]; 6*[(bix) "foreign currency" and "foreign exchange" have the meanings respectively assigned to them in the Foreign Exchange Regulation Act, 1973 (46 of 1973)]; (c) "Industrial Finance Corporation" means the Industrial Finance Corporation of India established under the Industrial Finance Corporation Act, 1948; (15 of 1948);] (ca) "International Development Association" meens the "Association" referred to in the International Development Association (Status, Immunities and Privileges) Act, 1960 (32 of 1960); (cb) "International Finance Corporation" means the "Corporation" referred to in the International Finance Corporation (Status, Immunities and Privileges) Act, 1958 (42 of 1958); (cc) "International Monetary Fund" and "International Bank for Reconstruction and Development" mean respectively ---------------------------------------------------------------------- 1. Omitted by Act 61 of 1981, s. 61 and second Sch. II (w.e.f. 12-7-1982). 2. Ins. by Act 47 of 1961, s. 51 and Sch. II (w.e.f. 1-1-1962). 3. Relettered by Act 23 of 1965, s. 2 (w.e.f. 1-3-1966). 4. Ins. by Act 18 of 1964, s. 38 and Sch. II (w.e.f. 1-7-1964). 5. Ins. by Act 28 of 1981 s. 40 and Sch. II (w.e.f. 1-1-1982). 6. Subs. by Act 24 of 1978, s. 3 (w.e.f. 21-7-1978). 7. Ins. by Act 51 of 1974, s. 2. 10 the "International Fund" and the "International Bank", referred to in the International Monetary Fund and Bank Act, 1945;] 1* * * * * 2*[(ccc) "National Bank" means the National Bank for Agriculture and Rural Development established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981);] 3*[(cccc) `National Housing Bank' means the National Housing Bank established under section 3 of the National Housing Bank Act, 1987 (53 of 1987);] 4* * * * * ---------------------------------------------------------------------- 1. Omitted by Act 61 of 1981, s. 61 and second Sch. (w.e.f. 12-7-1982). 2. Ins. by s. 61 and second Sch. (w.e.f. 12-7-1982). 3. Ins. by Act 53 of 1987, s. 56 and Sch. II (w.e.f. 19-7-1988). 11 1* * * * * 2*[(cv) "Reconstruction Bank" means the Industrial Reconstruction Bank of India established under section 3 of the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984);] (d) "rupee coin" means 3*** rupees which are legal tender 4*[in 5*[India]] under the provisions of the Indian Coinage Act, 1906 (3 of 1906); 6*** (e) "scheduled bank" means a bank included in the Second Schedule; 2*[(ea) "Sponsor Bank" means a Sponsor Bank as defined in the Regional Rural Banks Act, 1976 (21 of 1976);] 8*[(el) "Small Industries Bank" means the Small Industries Development Bank of India established under section 3 of the Small Industries Development Bank of India Act, 1989 (39 off 1989);] 9*[10*[(eb)] "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955);] 1* * * * * ---------------------------------------------------------------------- 1. Omitted by Act 61 of 1981 s. 61 and Sch. II (w.e.f. 12-7-1982). 2. Subs. by Act 62 of 1984, s. 71 and Sch. III (w.e.f. 20-3-1985). 3. The word "silver" omitted by Act 62 of 1948, s. 7 and Sch. (w.e.f 1-1-1949). 4. Ins. by the M.O. 1937. 5. Subs. by Act 32 of 1951, s. 2. for "the States". 6. The word "and" omitted by the M.O. 1937. 7. Ins. by Act 21 of 1976, s. 33 (w.e.f. 26-9-1975). 8. Ins. by Act 39 of 1989, s. 53 and second Sch. (w.e.f. 7-3-1990). 9. Ins. by Act 23 of 1955. s. 52 and Sch. III (w.e.f. 1-7-1955). Formerly, cl. (ee) was ins. by the A. O. 1950 and rep. by Act 32 of 1951, s. 4. 10. Cl. (ee) re-lettered as (ei) by Act 23 of 1965, s. 2 (w.e.f. 1-3- 1966) and again re-lettered as (eb) by Act 21 of 1976, s. 33 (w.e.f. 26-9-1975). 12 1*[(fi) "State Financial Corporation" means any State Financial Corporation established under the State Financial Corporations Act, 1951 (63 of 1951);] 3* * * * * 3*[(g) "Unit Trust" means the Unit Trust of India established under section 3 of the Unit Trust of India Act, 1963 (53 of 1963);] 4*[(h) "agricultural operations", "central co-operative bank", "co-operative society", "crops", "marketing of crops", "pisciculture", "regional rural bank" and "State co-operative bank" shall have the meanings respectively assigned to them in the National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981); (i) "co-operative bank", "co-operative credit society", "director", "primary agricultural credit society", "primary co-operative bank" and "primary credit society" shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949);]
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