Section 8A: Establishment and maintenance of subsidiary or trust

3[8A. Establishment and maintenance of subsidiary or trust.― Notwithstanding anything to this Act or in any other law for the time being in force, the Bank may establish and maintain a subsidiary or a trust for the following purposes, namely:― (a) for catering to all training needs of the Bank employees, financial sector and other agencies, organizations or institutions pertaining to banking and finance sector; (b) for handling the function of receipt, supply and exchange of bank notes and coins which are legal tender; (c) for issue, supply, sale and purchase of prize bonds, holding draws thereof and other National Savings Instruments; 4[*] 4[(d) for protection of depositors or establishment of a deposit protection fund; and] 4[(e)] generally for carrying out any other business or discharging any functions incidental to, or connected with, the affairs of the Bank.

Effective date: 1956-04-18

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