Amendment of Section 136(i)

In the proviso to sub-section (i) of section 136 of the Principal Act, for the item (a) (ii), the following shall be substituted, namely,-- "(a) (ii) a banking company ; Explanation--‘a banking company’ means-- (1) a banking company as defined in the Banking Regulation Act, 1949; (2) the State Bank of India constituted under the State Bank of India Act, 1955; (3) a Subsidiary Bank, as defined in the State Bank of India (Subsidiary) Act, 1959; (4) a corresponding new Bank constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 ; (5) any banking institution notified by the Central Government under Section 51 of the Banking Regulation Act, 1949; (6) the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance Corporation Act, 1963; (7) the Regional Rural Banks, as defined in section 2(f) of the Regional Rural Banks Ordinance, 1975; and (8) any other financial institutions notified by the Central Government in the Official Gazette as a bank for the purpose of this Act".