Deduction for financial institutions expanded to permit specified institutions to claim a percentage of total income under income tax law. A new sub clause permits a public financial institution, a State financial corporation or a State industrial investment corporation to deduct an amount up to a prescribed proportion of total income (computed before deductions under the clause and Chapter VI A); definitions for 'public financial institution', 'State financial corporation' and 'State industrial investment corporation' are added by reference to company and State financial corporations law, and the Explanation is substituted to state that 'financial corporation' includes a public company.