2. Definitions.- In
this Act, unless there is anything repugnant in the subject
or context, –
(a) omitted by Act 61 of 1981
(ai) omitted by Act 61 of 1981,
(aii) “the Bank” means the Reserve Bank of India
constituted by this Act;
(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;
(bi) Omitted by Act 61 of 1981
(bii) Omitted by Act 61 of 1981
(biii) Omitted by Act 61 of 1981
(biv) Omitted by Act 61 of 1981
(bv) Omitted by Act 61 of 1981
(bviii) Omitted by Act 61 of 1981
(bvi) “Deposit Insurance Corporation” means the
Deposit Insurance Corporation established under section 3
of the Deposit Insurance Corporation Act, 1961;
(bviiia) “Exim Bank” means the Export-Import Bank
of India established under the Export-Import Bank of India
Act, 1981;
(bix) “foreign currency” and “foreign exchange”
have the meanings respectively assigned to them in the Foreign
Exchange Regulation Act, 1973;
(c) “Industrial Finance Corporation” means the
Industrial Finance Corporation of India established under
the Industrial Finance Corporation Act, 1948;
(ca) “International Development Association” means
the “Association” referred to in the International
Development Association (Status, Immunities and Privileges)
Act, 1960;
(cb) “International Finance Corporation” means
the “Corporation” referred to in the International
Finance Corporation (Status, Immunities and Privileges) Act,
1958;
(cc) “International Monetary Fund” and “International
Bank for Reconstruction and Development” mean respectively
the “International Fund” and the “International
Bank”, referred to in the International Monetary Fund
and Bank Act, 1945;
(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;
(cccc) “National Housing Bank” means the National
Housing Bank established under section 3 of the National Housing
Bank Act, 1987;
(ci) Omitted by Act 61 of 1981
(cia) Omitted by Act 61 of 1981
(cii) Omitted by Act 61 of 1981
(ciii) Omitted by Act 61 of 1981
(civ) Omitted by Act 61 of 1981
(cv) “Reconstruction Bank” means the Industrial
Reconstruction Bank of India established under section 3 of
the Industrial Reconstruction Bank of India, Act, 1984;
(d) “rupee coin” means rupees which are legal
tender in India under the provisions of the Indian Coinage
Act, 1906;
(e) “scheduled bank” means a bank included in
the Second Schedule;
(ea) “Sponsor Bank” means a Sponsor Bank as defined
in the Regional Rural Banks Act, 1976;
(eb) “State Bank” means the State Bank of India
constituted under the State Bank of India Act, 1955;
(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”.
(f) Omitted by Act 61 of 1981
(fi) “State Financial Corporation” means any State
Financial Corporation established under the State Financial
Corporations Act 1951;
(g) “Unit Trust” means the Unit Trust of India
established under section 3 of the Unit Trust of India Act,
1963;
(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;
(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;
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