Application of the provisions of section 84 to specified bank

The provisions of section 84 shall apply to a specified bank as if in sub-section (1) of that section, for the words “at least once in each year”, the words “at least once in each quarter of a year” had been substituted. Explanation.–for the purpose of this section, the expression, “specified bank” means,– (i) a bank having deposits of not less than fifty crores rupees; (iii) a bank which is Scheduled Bank within the meaning of clause (e) of section 2 of the Reserve Bank of India Act, 1934.