1. Short title and commencement.—(1) This Act may be called the Industrial Development Bank
(Transfer of Undertaking and Repeal) Act, 2003.
(2) It shall come into force on such date1
as the Central Government may, by notification, appoint.
2. Definitions.—In this Act, unless the context otherwise requires,—
(a) “appointed day” means such date as the Central Government may, by notification, appoint
under section 3;
(b) “Company” means the Industrial Development Bank of India Limited to be formed and
registered under the Companies Act, 1956 (1 of 1956);
(c) “Development Bank” means the Industrial Development Bank of India established under
sub-section (1) of section 3 of the Industrial Development Bank of India Act, 1964 (18 of 1964);
(d) “notification” means a notification published in the Official Gazette;
(e) “Reserve Bank” means the Reserve Bank of India constituted under the Reserve Bank of India
Act, 1934 (2 of 1934).