Section 3M(2) in The Maharashtra Slum Areas (Improvement, Clearance and Redevelopment) Act, 1971
(2)The Slum Rehabilitation Authority may keep current and deposit account with the Bank.Explanation.- For the purposes of this sub-section, the expression 'Bank' means,-(i)the State Bank of India constituted under the State Bank of India Act, 1955;(ii)a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959;(iii)a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980;(iv)any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 as may be approved by the State Government.
