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