Amendment of section 2

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..... "credit institution" means,-- (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act) or a co-operative society engaged in carrying on the business of banking not being a co-operative society providing credit facilities to farmers ox village artisans; (ii) a public financia .....

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..... rities issued by the Government or a local authority, or other marketable securities of a like nature; (iii) a housing finance company, that is to say, a Company which carries on, as its principal business, the business of financing of acquisition or construction of houses, including acquisition or development of land in connection therewith; (iv) a loan company, that is to say, a company [not .....

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..... terest" means interest on loans and advances- made in India and includes-- (a) commitment charges on unutilised portion of any credit sanctioned for being availed of in India; and (b) discount on promissory notes and bills of exchange drawn or made in India, but does not include-- (i) interest referred to in sub-section (1B) of section 42 of the Reserve Bank of India Act, 1934 (2 of 193 .....

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