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In this Act, unless the context otherwise requires,— (a) “appointed day” means the date of commencement of this Act ; (b) “bank” means — (i) the State Bank of India constituted under the State Bank of India Act, 1955; (ii) a Subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 ; (iii) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 ; (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 ; (c) “Commissioner” means the Commissioner of Payment appointed under section 14 ; (d) “Corporation” means the Maharashtra State Textile Corporation, a Government company registered under the Companies Act, 1956 ; (e) “Instituition” means — (i) The General Insurance Corporation formed under section 9 of the General Insurance Business (Nationalisation) Act, 1972, (ii) The Industrial Credit and Investment Corporation of India, a Company being an existing Company as defined in clause (ii) of section 3 of the Companies Act, 1956, 2 Central India Spinning, Weaving and Manufacturing [1986 : Mah.XLVI Company Limited, The Empress Mills, Nagpur (Acquisition and Transfer of Undertaking) Act, 1986. Definitions. 23 of