Lawgist71Provision as to co-operative banks
Notwithstanding anything contained in section 22 of the Banking Regulation Act, 1949 (10 of 1949), where on account of the reorganisation of the existing State of Punjab, a co-operative bank is newly formed on the appointed day or within three months thereof in any of the successor States, it may commence and conduct banking business without obtaining a licence under that section from the Reserve Bank of India, until it is granted such a licence or until it is informed by the Reserve Bank of India that such a licence cannot be granted to it;
Provided that such bank applies to the Reserve Bank of India for such a licence within a period of three months from the date of formation of the bank.
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- 67 Provisions as to certain Corporations
- 68 Continuance of arrangements in regard to generation and supply of electric power and supply of water
- 69 Provisions as to Punjab State Financial Corporation
- 70 Amendment of Act 6 of 1942
- 71 Provision as to co-operative banks
- 72 General provisions as to statutory corporations
- 73 Provision as to certain companies
- 74 Temporary provisions as to continuance of certain existing road transport permits
- 75 Special provision relating to retrenchment compensation in certain cases
- 76 Special provision as to income-tax
- 77 Continuance of facilities in certain State institutions
