Section 11
Registration of new banking companies.
The Deposit Insurance and Credit Guarantee Corporation Act, 1961
About this Act
An Act to provide for the establishment of a corporation for the purpose of insurance of deposits and guaranteeing of credit facilities and for other matters connected therewith or incidental thereto.
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***
Notes
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).
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).