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State Agricultural Credit Corporations Act, 1968


2. Definitions.

In this Act, unless the context otherwise requires,-

  1. "agricultural marketing society" means a co-operative society the objects of which include the marketing of agricultural produce;

  2. "agricultural operation" includes animal husbandry, dairy farming, pisciculture and poultry  farming.

  3.  Explanation.--The expression "pisciculture" includes the development of fisheries, both inland and marine, catching of fish and all activities connected there with or incidental thereto;]

  4. "agricultural processing society" means a co-operative society the objects of which include the  processing of agricultural produce;

  5. "agricultural produce" includes the produce of an agricultural operation;  "appropriate Government" means,-

  1. in relation to any Corporation established in a Union territory, the Central Government, and 168.

  2. in relation to any corporation established at any other place, the State Government;

  1. "banking company" has the meaning assigned to it in clause (c) of section 5 of the Banking  Regulation Act, 1949 (10 of 1949);

  2. "Board" means the Board of directors of the Corporation;

  3. "co-operative farming society" means a co-operative society the objects of which include the  cultivation of land on a co-operative basis;

  4. "Corporation", in relation to a State or Union territory, means the Agricultural Credit  Corporation established under section 3 in that State or Union territory, as the case may be; 1*[(ii)"corresponding new bank" means a corresponding new bank constituted under section 3 of  the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) 2*[or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980)];]

  5. "director" means a member of the Board;

  6. "Food Corporation" means the Food Corporation of India established under the Food Corporations Act, 1964 (27.of 1964);

  7. "prescribed" means prescribed by rules made under this Act;

  8. "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934.(2 of 1934);

  9. "subsidiary banks" has the meaning assigned to it in the State Bank of India (subsidiary Banks)  Act, 1959.(38 of 1959);

  10. "Central Co-operative Bank", "co-operative Bank", "Co-operative Society", Primary Agricultural Credit
    Society", "Scheduled Bank", "State Bank" and "State Co-operative Bank", have the meanings  respectively assigned to them in section 2 of the Reserve Bank of India Act, 1934 (2 of 1934).



State Agricultural Credit Corporations Act, 1968 Back




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