Notification S.O. 2031(E), dated 14th April, 1990 [N12-54Q]
As at 7 September 2026. In force from 14 April 1990.
S.O. 2031(E).—In exercise of the powers conferred by section 10 of the Small Industries Development Bank of India Act, 1989 (39 of 1989), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts borrowers whose the business of banking 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 business of banking within seven days of such commencement.
Made under
Recital: "In exercise of the powers conferred by section 10 of the Small Industries Development Bank of India Act, 1989 (39 of 1989), the Central Government, being satisfied that it is necessary in the public interest so to do". Names section 10 of the Small Industries Development Bank of India Act, 1989 (39 of 1989) [S1W-35Z]. Vires verified.
Acts on (1)
Exempts Section 4, Small Industries Development Bank of India Act, 1989 [S1W-2ZA], 14 April 1990. "section 4 of the said Act".
Acted on by (0)
none
Not held (0)
none