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.

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

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;

Examples of Public Sector Bank in a sentence

The BIDDER/SELLER/CONTRACTOR/SERVICE PROVIDER declares that no previous transgression occurred in the last three years immediately before signing of this Integrity Pact with any other company in any country in respect of any corrupt practices envisaged hereunder or with any Public Sector Bank, Public Sector Enterprise/Undertaking in India or any Government Department in India that could justify BIDDER's exclusion from the tender process.
This Letter of Credit shall be established with a Scheduled Public Sector Bank.
The Security Deposit shall be in the form of an unconditional and irrecoverable Bank Guarantee in favor of “Shillong Smart City Limited”, drawn on any Public Sector Bank and payable /encashable at Shillong.
The bidder should not have been blacklisted by any Public Sector Bank in the last 3 years.
The BIDDER/ SELLER/ CONTRACTOR/ SERVICE PROVIDER declares that no previous transgression occurred in the last three years immediately before signing of this Integrity Pact with any other company in any country in respect of any corrupt practices envisaged hereunder or with any Public Sector Bank, Public Sector Enterprise/Undertaking in India or any Government Department in India that could justify BIDDER's exclusion from the tender process.

More Definitions of Public Sector Bank

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

Public Sector Bank means (i) the banks nationalised and constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, or Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980; (ii) the State Bank of India constituted under the State Bank of India Act, 1955 and; (iii) its subsidiaries constituted under the State Bank of India (Subsidiary Banks) Act, 1959[]. [Indian counsel: pls advise.]

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

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 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.