Government Savings Bank definition expanded to include Post Office Savings Bank and notified banking institutions with designated secretaries. The amendment substitutes clause (b) of section 3 to define "Government Savings Bank" as either a Post Office Savings Bank or a banking company or other ... Summary
Government Savings Bank definition expanded to include Post Office Savings Bank and notified banking institutions with designated secretaries.
The amendment substitutes clause (b) of section 3 to define "Government Savings Bank" as either a Post Office Savings Bank or a banking company or other company/institution specified by the Central Government by notification, and to define "Secretary" as, respectively, the Postmaster General or specified government officer for a Post Office Savings Bank, and an officer of the banking company/other institution or a government officer or other person as the Central Government may specify by order.
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