761 1[269ST. Mode of undertaking transactions .-No person shall receive an amount of two lakh
rupees or more -
(a)in aggregate from a person in a day; or (b)in respect of a single transaction; or (c)in respect of transactions relating to one event or occasion from a person,
otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing
system through a bank account:
Provided that the provisions of this section shall not apply to - (b)any banking company, post office savings bank or co -operative bank; (ii)transactions of the nature referred to in section 269SS; (iii)such other persons or class of persons or receipts, which the Central Government may, by
notification in the Official Gazette, specify.
Explanation .-For the purposes of this section, - (a)“banking company” shall have the same meaning as assigned to it in clause (i) of the
Explanation to section 269SS; (b)“co -operative bank” shall have the same meaning as assigned to it in clause ( ii) of the
Explanation to section 269SS.]