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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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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