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[Cites 0, Cited by 0] [Section 56(3)] [Section 56] [Entire Act]

Union of India - Subsection

Section 56(3)(a) in The Banking Regulation Act, 1949

(a)"liabilities in India" shall not include-
(i)the paid-up capital or the reserves or any credit balance in the profit and loss account of the co-operative bank;
(ii)any advance taken from a State Government, the Reserve Bank, [***] [Wrods "the Development Bank" ommtted by Act No. 4 OF 2013] the Exim Bank, [the Reconstruction Bank,] [Inserted by Act 62 of 1984, Section 71 and Sch. III (w.e.f. 20.3.1985).] [the National Housing Bank,] [Inserted by Act 53 of 1987, Section 56 and Sch. II (w.e.f. 9.7.1988).] the National Bank, [the Small Industries Bank] [Inserted by Act 39 of 1989, Section 53 and Sch. II (w.e.f. 7.3.1990).] or from the National Co-operative Development Corporation established under section 3 of the National Co-operative Development Corporation Act, 1962 (26 of 1962) by the co-operative bank;
(iii)in the case of a State or central co-operative bank, also any deposit of money with it representing the reserve fund or any part thereof maintained with it by any other co-operative society within its area of operation, and in the case of a central co-operative bank, also an advance taken by it from the [Co-operative Bank] [Substituted for the words "State co-operative bank" by Act No. 4 OF 2013] of the State concerned;
(iv)in the case of a primary co-operative bank, also any advance taken by it from the [Co-operative Bank] [Substituted for the words "State co-operative bank" by Act No. 4 OF 2013] of the State concerned or the Central co-operative bank of the district concerned;
(v)in the case of any co-operative bank, which has granted an advance against any balance maintained with it, such balance to the extent of the amount outstanding in respect of such advance; and
(vi)in the case of any co-operative bank, the amount of any advance or other credit arrangement drawn and availed of against approved securities;