INDIA CODE
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Section 61, Small Industries Development Bank of India Act, 1989 [S1W-4RW]

As at 7 September 2026. In force from 28 August 1989 by S.O. 2733(E) [N12-4Y2].

In Small Industries Development Bank of India Act, 1989 [A10-ZYX]. This text from 28 August 1989. 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 61, Small Industries Development Bank of India Act, 1989 [S1W-4RW]. Machine: S1W-4RW.

61. Prohibition of the business of banking without licence.—No person shall undertake the business of banking except under and in accordance with the conditions of a licence granted under section 62: Provided that nothing in this section shall apply to the business of banking undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

banking: Section 2, Small Industries Development Bank of India Act, 1989 [S1W2XE] (In this Act, unless the context otherwise requires,—): "banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise

banking: 27 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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Section 61, Small Industries Development Bank of India Act, 1989 [S1W-4RW]