Public Sector Bank definition

Public Sector Bank means the State Bank of India constituted under the State Bank of India Act, 1955 or any subsidiary bank as defined in clause (k) of Section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 or any corresponding new bank as defined in clause (b) of Section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.

Public Sector Bank means a credit institution that has been set up and is owned by a Member State's central government, regional government or local authorities and whose business model is to primarily provide funding for the local public sector, the regional public sector and providers of services of general economic interest;

Public Sector Bank means a bank referred to in sub-clause (ii), (iii) or (iv) of clause (a);

Examples of Public Sector Bank in a sentence

• Service Provider, shall provide unconditional and irrevocable Performance Bank Guarantee for Rs ---------------------/- (Rupees Only) in favour of BOB from any Public Sector Bank other than Bank of Baroda as acceptable to BOB towards due performance of the contract in accordance of this Agreement.

• Union Bank of India, a Public Sector Bank has its Head Office at 239, Vidhan Bhavan Marg, Union Bank Bhavan, Nariman Point, Mumbai – 400021, having Department of Information Technology at 1/1A, Adi Shankaracharya Marg, opp.

• Union Bank of India, a Public Sector Bank has its Central Office at 239, Vidhan Bhavan Marg, Union Bank Bhavan, Nariman Point, Mumbai – 400021, having Department of Information Technology at 1/1A, Adi Shankaracharya Marg, opp.

• In the state of Maharashtra, the Bank has 1100+ branch offices, the largest network of branches by any Public Sector Bank in a state.

• Union Bank of India, a Public Sector Bank has its Central Office at 239, Vidhan Bhavan Marg, Union Bank Bhavan, Nariman Point, Mumbai – 400021, and having Department of Information Technology at 1/1A, Adi Sankaracharya Marg, opp.

More Definitions of Public Sector Bank

Public Sector Bank means the State Bank of India constituted under the State Bank of India Act, 1955 or any subsidiary bank as defined in clause

Public Sector Bank means the State Bank of India or its Subsidiaries or a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970);

Public Sector Bank means State Bank of India, constituted by the State Bank of India Act, 1955, subsidiary Banks constituted

Public Sector Bank means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new Bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980);

Public Sector Bank means State Bank of India, constituted by the State Bank of India Act, 1955, subsidiary banks constituted under the State Bank of India (Subsidiary Banks) Act, 1959, the banks constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the banks constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. IDBI Bank has since been classified as a Public Sector Bank.

Public Sector Bank. A bank fully or partly owned by the Government.

Public Sector Bank means a scheduled commercial bank in which the Central Government, or one or more State Governments, or the Central Government and one or more State Governments jointly hold not less than fifty-one per cent. of its paid up equity share capital.