Section 19, State Financial Corporations Act, 1951 [S1B-DRM]

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 19, State Financial Corporations Act, 1951 [S1B-DRM]. Machine: S1B-DRM.

19. Prohibition of the business of a financial institution without licence.—No person shall undertake the business of a financial institution except under and in accordance with the conditions of a licence granted under section 20: Provided that nothing in this section shall apply to the business of a financial institution undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

financial institution: Section 2, State Financial Corporations Act, 1951 [S1BD7F] (In this Act, unless the context otherwise requires,—): "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934)

financial institution: 25 more definitions.

Made under this section, or naming it (0)

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Cited by (0)

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Not held (0)

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Duties published under this section (0)

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