Financial Institution - Definition / Legal Terminology - Income Tax

For the purposes of section 80EEB(5)(b) of the Income tax Act 1961- Financial Institution means- a banking company to which the Banking Regulation Act, 1949 applies, or any bank or banking institution referred to in section 51 of that Act and includes any deposit taking non-banking financial company or a systemically important non-deposit taking non-banking financial company as defined in clauses (e) and (g) of Explanation 4 to section 43B.