Section 2(12) in The Bengal Money-Lenders Act, 1940
(12)"loan" means an advance, whether of money or in kind, made on condition of repayment with interest and includes any transaction which is in substance a loan but does not include-[* * * * *] [[Sub-clauses (a) and (b) omitted by W.B. Act 21 of 1965, which were as under:- '(a) a deposit of money or other property,'(b) a loan to, or by, or a deposit with, any society or association registered under the Societies Registration Act, 1860, or under any other law relating to public, religious or charitable objects;'.]][* * * * *] [[Sub-clauses (a) and (b) omitted by W.B. Act 21 of 1965, which were as under:- '(a) a deposit of money or other property,'(b) a loan to, or by, or a deposit with, any society or association registered under the Societies Registration Act, 1860, or under any other law relating to public, religious or charitable objects;'.]](c)a loan taken or advanced by [by the Central Government or any State Government] [Words 'by the Central Government or any Provincial Government' first substituted for the words 'any Government in British India' by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order, 1948 and thereafter the word 'State' substituted for the word 'Provincial' by the Adaptation of Laws Order, 1950.] or by any local authority in [West Bengal] [Words substituted for the word 'Bengal' by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order, 1948.];(d)a loan advanced before or after the commencement of this Act-(i)[ by a bank; or] [[Clause (i) substituted by W.B. Act 21 of 1965, which was earlier as under:-'(i) by a bank which is a scheduled bank or by a bank which has beendeclared to be a notified bank under section 3, whether or not such bank was a scheduled bank or was so declared to be a notified bank, as the case may be, at the time the loan was advanced; or'.]](ii)by a co-operative life insurance society, co-operative society, insurance company, life assurance company,[Life Insurance Corporation of India,] [Words Inserted by W.B. Act W.B. Act 21 of 1965.] mutual insurance company, provident insurance society or provident society or from a provident fund;(e)an advance made on the basis of a negotiable instrument as defined in the Negotiable Instruments Act, 1881, other than a promissory note;[* * * * *.] [[Sub-clause (J) Omitted by W.B. Act 4 of 1981 w.e.f. 2.2.1981 which was as under:-'(f) a commercial loan:'.]][* * * * *.] [[Sub-clause (g) Omitted by W.B. Act 21 of 1965, which was as under:-'(g) a loan advanced to any person for the purchase or construction of a house or for the construction of a house together with the purchase of the site thereof, within the limits of the area defined by clause (11) of section 3 of the Calcutta Municipal Act. 1923, or of any area which has been or may hereafter be constituted a municipality under the provisions of the Bengal Municipal Act, 1932, if such loan is subject to the condition of repayment by instalments extending over a period of ten years or more;'.]](h)a loan made to or by the Administrator-General and Official Trustee of [West Bengal] [Words substituted for the word 'Bengal' by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order, 1948.] or the Commissioner of Wakfs or the Official Assignee or the Official Receiver of the High Court in Calcutta;(i)a loan or debenture in respect of which dealings are listed on any Stock Exchange;
