Indian Bare Acts

THE STATE AGRICULTURAL CREDIT CORPORATIONS ACT, 1968

Title : THE STATE AGRICULTURAL CREDIT CORPORATIONS ACT, 1968

Year : 1968



The provisions of sections 8, 9, 20, 20A, 21, 23, 24, 26, 34A, 35, [excluding sub-section (4)], 35A, clause (a) of sub-section (1) of section 36, and sections 46,47,50 and 54 of the Banking Regulation Act, 1949 (10 of 1949), shall apply to or in relation to the Corporation as they apply to or in relation to co-operative banks.



The provisions of sections 18 and 42 of the Reserve Bank of India Act, 1934 (2 of 1934), shall apply to or in relation to the Corporation as they apply to or in relation to a State Co-operative Bank.



Save as otherwise provided in this Act, nothing contained in the Reserve Bank of India Act, 1934 (2 of 1934) and the Banking Regulations Act, 1949 (10 of 1949), shall apply to or in relation to the Corporation.



The Bankers' Books Evidence Act, 1891(18 of 1891), shall apply to or in relation to the Corporation as it applies to or in relation to a bank as defined in section 2 of that Act.



For the purpose of the Income-tax Act, 1961(43 of 1961), or any other enactment for the time being in force relating to any tax on income, profits or gains the Corporation shall be deemed to be a co-operative society.



Notwithstanding anything contained in the Indian Evidence Act, 1872 (1 of 1872), or any other law for the time being in force, no Court, Tribunal or other authority shall have power to require the Corporation, the Reserve Bank or any other officer of the Corporation or the Reserve Bank to produce before such Court, Tribunal or other authority the report of any inspection, or any copy thereof, made by the Reserve Bank in pursuance of section 35 of the Banking Regulation Act, 1949(10 of 1949) , as applied to the Corporation under section 34.
Last updated on August, 2016

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