Notification S.O. 2230(E), dated 2nd October, 1962 [N11-QWR]

As at 7 September 2026. In force from 2 October 1962.

Dates: made 2 October 1962; in force 2 October 1962; ceased none recorded. Gazette: none recorded. Band A.

Synthetic. This instrument and its words are generated by the register beneath an Act whose title, number and year are real.

Cite: Notification S.O. 2230(E), dated 2nd October, 1962, S.O. 2230(E) [N11-QWR]. Machine: N11-QWR.

S.O. 2230(E).—In exercise of the powers conferred by section 10 of the State Bank of India Act, 1955 (23 of 1955), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts depositors whose the borrowing of money does not exceed fifty thousand rupees in value in a financial year from the provisions of section 4 of the said Act, subject to the condition that every such person shall intimate the Reserve Bank in writing of the commencement of the borrowing of money within thirty days of such commencement.

Made under

Recital: "In exercise of the powers conferred by section 10 of the State Bank of India Act, 1955 (23 of 1955), the Central Government, being satisfied that it is necessary in the public interest so to do". Names section 10 of the State Bank of India Act, 1955 (23 of 1955) [S1C-XS1]. Vires verified.

Acts on (1)

Exempts Section 4, State Bank of India Act, 1955 [S1C-XKN], 2 October 1962. "section 4 of the said Act".

Acted on by (0)

none

Not held (0)

none