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[Cites 0, Cited by 0] [Section 293] [Entire Act]

Union of India - Subsection

Section 293(4) in The Companies Act, 1956

(4)The acceptance by a banking company, in the ordinary course of its business, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise, shall not be deemed to be a borrowing of moneys by the banking company within the meaning of clause (d) of sub-section (1).