Section 3(5) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970
(5)Every corresponding new bank shall carry on and transact the business of banking as defined in clause (b) of section 5 of the Banking Regulation Act, 1949 (10 of 1949), and may engage in [one or more of the other forms of business] [Substituted by Act 1 of 1984, Section 65, for " one or more forms of business" (w.e.f. 15.2.1984). ] specified in sub-section (1) of section 6 of that Act.
