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State Financial Corporations Act, 1951

4B. Transfer of share capital to Development Bank

On such date as the Central Government may, by notification in the Official Gazette, specify (hereinafter referred to as the specified date), all the shares of every Financial Corporation subscribed by the Reserve Bank as on the date immediately preceding the specified date, shall, stand transferred to, and vested in, the Development Bank.

State Financial Corporation Act, 1951 Back

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