Amendment of Section 2

1) In section 2 of the Principal Act, clause (b) shall be substituted by the following, namely :- “(B) “Deposit” includes and shall be deemed always to have included any receipt of money or acceptance of any valuable commodity by any Financial Establishment to be returned after a specified period or otherwise, either in cash or in kind or in the form of a specified service with or without any benefit in the form of interest, bonus, profit or in any other form”. 2) Clause (c) shall be substituted by the following, namely:- “(c) “Financial Establishment” means any person or a group of individuals or a firm or a company incorporated under the Companies Act 1956 carrying on business of receiving deposits under any scheme or arrangement or in any other manner and will include any other Non-Banking Finanical Companies but does not include a Corporation or a Co-operative Society owned or controlled by any State Government or the Central Government or a Banking Company as defined under clause (c) of section 5 of the Banking Regulation Act, 1949”.