1[21A. Bank to transact Government business of States on agreement.--(1) The Bank may by agreement with the Government of any 2*** State 3*** undertake--
(a) all its money, remittance, exchange and banking transactions in India, including in particular, the deposit, free of interest, of all its cash balances with the Bank; and
(b) the management of the public debt of, and the issue of any new loans by, that State.
(2) Any Agreement made under this section shall be laid, as soon as may be after it is made, before Parliament.]
1Ins. by Act 32 of 1951, s. 12 (w.e.f. 1-11-1951).
2The word and letter "Part B" omitted by Act 37 of 1956, s. 104 (w.e.f. 1-11-1956).
3The words "(including the autonomous State of Meghalaya)" omitted by Act 81 of 1971, s. 72 (w.e.f. 21-1-1972) which was earlier inserted by Act 55 of 1969, s. 75 (w.e.f. 2-4-1970).