Amendment status not verified — confirm the current text below against the official source.
In this Act, unless the context otherwise requires,- (a) “competent authority” means the authority appointed under section 4; (b) “deposit” means the deposit of a sum of money either in lumpsum or installments made with a financial establishment for a fixed period, for interest or return in any kind; 3[(c) “Financial Establishments” means any person or group of individuals accepting deposit under any scheme or arrangement or in any other manner but does not include a corporation or a co-operative society owned or controlled by any State Government or the Central Government or a