In section 13 of the principal Act, in sub-section (2), for the words "in computer floppies or diskettes", the words "in computer floppies or diskettes or any other electronic form" shall be substituted.
In section 16 of the principal Act,-
(a) In sub-section (1), for the word "Bombay", the words "Mumbai, and shall also be known as Corporate Centre" shall be substituted;
(b) In sub-section (2), for the words "Bombay, Calcutta and Madras", the words "Mumbai, Kolkata and Chennai" shall be substituted.
In section 19 of the principal Act,-
(a) In clause (a), the words "and a vice-chairman" shall be omitted;
(b) For clause (b), the following clause shall be substituted, namely:-
(b) Such number of managing directors not exceeding four, as may be appointed by the Central Government in consultation with the Reserve Bank;
(c) Clause (bb) shall be omitted;
(d) In clause (d) the words "in consultation with the Reserve Bank " shall be omitted;
(e) For clause (f) the following clause shall be substituted, namely:-
(f) One director, possessing necessary expertise and experience in matters relating to regulation or supervision of commercial banks to be nominated by the Central Government on the recommendation of the Reserve Bank.
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