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[Cites 0, Cited by 0] [Section 56(3)] [Section 56] [Entire Act]

Union of India - Subsection

Section 56(3)(c) in The Banking Regulation Act, 1949

(c)"net balance in current accounts" shall, in relation to a co-operative bank, mean the excess, if any, of the aggregate of the credit balances in current account maintained by that co-operative bank with the State Bank of India or a subsidiary bank or [a corresponding new bank or IDBI Bank Ltd.] [Substituted for the words "a corresponding new bank" by Act No. 4 OF 2013], over the aggregate of the credit balances in current accounts held by the said banks with such co-operative bank;