Explanation: In this sub-section "Scheduled Bank" has the same meaning as assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934.

Submission of programme of activities and financial estimates

1. (1) The Authority shall before the commencement of each financial year, prepare statement of programme of its activities during the forth-coming financial year as well as financial estimate in respect thereof.
2. (2) The statement prepared under sub-section
3. (1) shall, not less than three months before the commencement of each financial year, be submitted for approval to the Government.
4. (3) The statement and financial estimates of the Authority may, with the approval of the Government be revised by the Authority.