Section 18, State Financial Corporations Act, 1951 [S1B-DQA]

As at 7 September 2026. In force from 29 September 1952 by S.O. 1052(E) [N11-J5V].

In State Financial Corporations Act, 1951 [A10-DCY]. This text from 29 September 1952. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 18, State Financial Corporations Act, 1951 [S1B-DQA]. Machine: S1B-DQA.

18. Registration of depositors.—(1) Every depositor shall, within sixty days from the commencement of this Act or, where such person begins the making of deposits after such commencement, within sixty days from the date of such beginning, make an application for registration to the Reserve Bank in Form A, accompanied by a fee of five hundred rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No depositor shall carry on the making of deposits unless registered under this section.

Defined terms in this text (1)

Reserve Bank: Section 2, State Financial Corporations Act, 1951 [S1BD7F] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)

Reserve Bank: 24 more definitions.

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