BareLaws
SECTION
3 interpreted terms

Section 3 — for the purposes of carrying on the business of asset reconstruction or securitisation, or

From: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

section 3 for the purposes of carrying on the business of asset reconstruction or securitisation, or both;]
(c)“bank ” means-
(i)a banking company; or
(ii)a corresponding new bank; or
(iii)the State Bank of India; or
(iv)a subsidiary bank; or 4[(iva) a multi -State co -operative bank; or]
(v)such other bank which the Central Government may, by notification, specif y for the purposes of this Act;
(d)“banking company ” shall have the meaning assigned to it in clause ( c) of section 5 of the Banking Reg ulation Act, 1949 (10 of 1949);