Amendment status not verified — confirm the current text below against the official source.
Chapter IIIB not to apply in certain cases.—The provisions of this Chapter shall not apply to the State Bank or a banking company as defined in section 5 of the 2[Banking Regulation Act, 1949 (10 of 1949)] or 3[a corresponding new bank as defined in clause (da) of section 5 of that Act or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959)] or 4[a Regional Rural Bank or a co-operative bank] or a primary agricultural credit society or a primary credit society]: Provided that for the purposes of this Chapter, the 5 [Tamil Nadu Industrial Investment Corporation Limited] shall not be deemed to be a banking company. 45-I. Definitions.—In this Chapter, unless the context otherwise requires,— 6[(a) “business of a non-banking financial institution” means carrying on the business of a financial institution referred to in clause (c) and includes business of a non-banking financial company referred to in clause (f);] 7[(aa)] “company” means a company as defined in section 3 of the Companies Act, 1956 (1 of 1956), and includes a foreign company within the meaning of section 591 of that Act; (b) “corporation” means a corporation incorporated by an Act of any legislature; 8[(bb) “deposit” includes and shall be deemed always to have include any receipt of money by way of deposit or loan or in any other form, but does not include,— (i) amounts raised by way of share capital; (ii) amounts contributed as capital by partners of a firm; (iii) amounts received from a scheduled bank or a co-operative bank or any other banking company as defined in clause (c) of section 5 of a Banking Regulation Act, 1949 (10 of 1949); (iv) any amount received from,— 9* * * * * (b) a State Financial Corporation,