Section 102(1) in The States Reorganisation Act, 1956
(1)As from the appointed day, the Financial Corporations established under the State Financial Corporations Act, 1951 (63 of 1951.), for the existing States of Madhya Bharat, Punjab, Rajasthan and Travancore-Cochin shall be deemed to be the Financial Corporations established under the said Act for the new States of Madhya Pradesh, Punjab, Rajasthan and Kerala, respectively.