Section 29A(3) in The Banking Regulation Act, 1949
(3)The provisions of sub-sections (2) and (3) of section 35 shall apply mutatis mutandis to the inspection under this section.Explanation.-"associate enterprise" in relation to a banking company includes an enterprise which-(i)is a holding company or a subsidiary company of the banking company; or(ii)is a joint venture of the banking company; or(iii)is a subsidiary company or a joint venture of the holding company of the banking company; or(iv)controls the composition of the Board of directors or other body governing the banking company; or(v)exercises, in the opinion of the Reserve Bank, significant influence on the banking company in taking financial or policy decisions; or(vi)is able to obtain economic benefits from the activities of the banking company.]
