The Corporation shall register every new banking company as an insured bank as soon as may be after it is granted a licence under section 22 of the 1[Banking Regulation Act, 1949 (10 of 1949)], 2*** 1. Subs. by s. 2, ibid., for "the Banking Companies Act, 1949" (w.e.f. 1-7-1971). 2. The words and figures ", or, as the case may be, after it is notified under section 51 of the said Act " omitted by Act 1 of 1984, s. 59 (w.e.f. 15-2-1984).
Chapter III — REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOITORS
Section 11
Registration of new banking companies.
Printed from Law on Tips • The Deposit Insurance and Credit Guarantee Corporation Act, 1961