Notwithstanding anything contained in the Acts hereinafter mentioned in this section, the shares of the State Bank shall be deemed to be included among the securities enumerated in section 20 of the Indian Trusts Act, 1882 (2 of 1882), and also to be approved securities for the purposes of the Insurance Act, 1938 (4 of 1938), and the ¹[Banking Regulations Act, 1949 (10 of 1949)].

1. Subs. by Act 3 of 1994, s. 4, for "Banking Companies, 1949" (w.e.f. 15-10-1993).