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

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Union of India - Subsection

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

(b)direct the exclusion from that Schedule of any scheduled bank,—

(i)the aggregate value of whose paid-up capital and reserves becomes at any time less than five lakhs of rupees, or

(ii)which is, in the opinion of the Bank after making an inspection under section 35 of the Banking Regulation Act, 1949 (10 of 1949), conducting its affairs to the detriment of the interests of its depositors, or

(iii)which goes into liquidation or otherwise ceases to carry on banking business:

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Union of India - Subsection

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