Section 2 in The Industrial Development Bank Of India Act, 1964
2. Definitions .-In this Act, unless the context otherwise requires,-
(a)"Board "means the Board of Directors of the Development Bank;(b)"Development Bank "means the Industrial Development Bank of India established under section 3;(c)[ "Industrial concern "means any concern engaged or to be engaged in,-(i)the manufacture, preservation or processing of goods;(ii)shipping;(iii)[ mining including development of mines;](iv)[ the hotel industry; [ Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986).](v)the transport of passengers or goods by road or by water or] [by air or by ropeway or by lift] [ Substituted by Act 35 of 1986, Section 2, for " by air" (w.e.f. 14.8.1986).];(vi)[ the generation, storage or distribution of electricity or any other form of energy;] [Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986). ](vii)[ the maintenance, repair, testing or servicing of] [ Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986).] [machinery or equipment] [ Substituted by Act 35 of 1986, Section 2, for " machinery" (w.e.f. 14.8.1986).] [of any description or vehicles or vessels or motor boats or trailers or tractors; [ Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986).](viii)assembling, repairing or packing any article with the aid of machinery or power;](ix)[ the setting up of, or development of, an industrial area or an industrial estate;] [ Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986).](x)[ fishing or providing shore facilities for fishing or maintenance thereof; [ Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986).](xi)providing special or technical knowledge or other services for the promotion of industrial growth; or](xii)[ providing engineering, technical, financial management, marketing or other services or facilities for industry; [Substituted by Act 35 of 1986, Section 2, for sub-Cls. (iii), (vi), (ix) and (xii) (w.e.f. 14.8.1986). ](xiii)service industry such as altering, ornamenting, polishing, finishing, oiling, washing, cleaning or otherwise treating or adapting any article or substance with a view to its use, sale, transport, delivery or disposal;(xiv)providing medical, health or other allied services;(xv)providing services relating to information technology, telecommunication or electronics;(xvi)leasing, sub-leasing or giving on hire or hire-purchase of industrial plants, equipments, machinery or other assets including vehicles, ships and aircraft;(xvii)such other activity as the Central Government may, having regard to the objects of this Act, by notification in the Official Gazette, specify in this behalf; or(xviii)the research and development of any concept, technology, design, process or product whether in relation to any of the matters aforesaid, including any activities specified under sub-clause (xvii), or any other matter.Explanation .-The expression "processing of goods "includes any art or process for producing, preparing or making an article by subjecting any material to a manual, mechanical, chemical, electrical or any other like operation.](d)[ "Industrial Finance Corporation "means the Industrial Finance Corporation of India Limited formed and registered under the Companies Act, 1956 (1 of 1956);] [ Substituted by Act 5 of 1995, Section 2, for Cl. (d) (w.e.f. 12.10.1994).](da)[ "nationalised bank "means a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980);] [ Substituted by Act 35 of 1986, Section 2, for Cl. (da) (w.e.f. 14.8.1986).](e)"prescribed "means prescribed by regulations made under this Act;(f)"Reserve Bank "means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934);(g)"scheduled bank "means a bank for the time being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934);(ga)[ "State Bank "means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); [ Inserted by Act 52 of 1975, Section 3 (w.e.f. 16.2.1976).](gb)"subsidiary bank "has the meaning assigned to it in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959);](h)"State co-operative bank "has the same meaning as in the Reserve Bank of India Act, 1934 (2 of 1934);(i)"State Financial Corporation "means a financial corporation established under section 3 or section 3-A of the State Financial Corporations Act, 1951 (63 of 1951) and includes the [Tamil Nadu] [ Substituted by Act 75 of 1972, Section 2, for " Madras" (yet to be enforced).] Industrial Investment Corporation Limited;(j)[ "Unit Trust "means the Unit Trust of India established under section 3 of the Unit Trust of India Act, 1963 (52 of 1963).] [ Inserted by Act 52 of 1975, Section 3 (w.e.f. 16.2.1976).]
