Section 42(6)(a) in The Reserve Bank of India Act, 1934

[Cites 0, Cited by 4] [Section 42(6)] [Section 42] [Entire Act]

Union of India - Subsection

Section 42(6)(a) in The Reserve Bank of India Act, 1934

(a)direct the inclusion in the Second Schedule of any bank not already so included which carries on the business of banking in India and which—

(i)has a paid-up capital and reserve of an aggregate value of not less than five lakhs or rupees, and

(ii)satisfies and Bank that its affairs are not being conducted in a manner detrimental to the interests of its depositors, and

(iii)is a State co-operative bank or a company as defined in section 3 of the Companies Act, 1956 (1 of 1956), or an institution notified by the Central Government in this behalf or a corporation or a company incorporated by or under any law in force in any place outside India;

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Union of India - Subsection

Section 42(6)(a) in The Reserve Bank of India Act, 1934