Section 3(4) in The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
(4)Notwithstanding anything contained in the Banking Regulation Act, 1949 (10 of 1949), the Central Government may, in consultation with the Reserve Bank of India, by notification, direct that any of the provisions of that Act specified in the notification—(a)shall not apply to the Company; or(b)shall apply to the Company, only with such exceptions, modifications and the adaptations as may be specified in the notification.
