(i) A banking company as defined in the Banking regulation Act, 1949 (Central Act No. 10 of 1949)
(ii) The State Bank of India constituted under the State Bank of India Act, 1955 (Central Act No. 23 of 1955);
(iii) A Subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (Central Act No. 38 of 1959);
(iv) A corresponding new bank constituted under the Banking Companies (Acquisition and transfer of undertakings) Act , 1970 (Central Act No 5 of 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1980 (Central Act No.
40 of 1980);
(v) A Regional Rural Bank as established under section 3 of the regional rules Banks Act, 1970 *Central Act No. 21 to 1970);
(vi) Any Banking institutions notified by the Central Government under rules section 51 of the Banking regulation Act, 1949 (Central Act 10 of 1949); and.
(vii) The Agriculture Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (Central Act No. 10 of 1963).
14. Books of account to be kept by the Corporation -
(1) The books of account of the Corporation with to the following maters shall be kept at its head office namely:-
(a) All sum of money received and expended, and the matters in respect of which the receipt and expenditure takes place.
(b) All sales and purchases made by the Corporation;
(c) The assets and liabilities of the Corporation; and
(d) Such particulars relating to utilization of material or labour or to other items of expenditure as may be specified by the Board, if the Corporation is engaged in the production processing and manufacturing of goods.
(2) If the Corporation has a branch officer, whether in the State or outside, It shall be deemed to have complied with the provisions contains in sub-rule (1) , if proper books of account relating to the transactions effects at the branch office are kept to the transactions effected at the branch office are kept at that office at that office and proper summarized returned, made up to date at intervals of mot more than three months , are sent by the branch office to the Corporation head office.
(3) For the purpose of sub-rules (1) and (2), proper books of account shall not be deemed to have been kept if these do not reflect a true and fair view of the state of affairs of the Corporation or its branch office and do not explain its transaction and are not kept in accrual basis according to double entry system of accounting.
(4) The books of account and other books and documents of the Corporation shall be open to inspection by any one or more Directors during working hours or by such officer of the Government as may be authorized by it in this behalf. Such an inspection may be made without giving any previous notice to the Corporation or any officer thereof :
Provided that a Director may be assisted by any person of his choice, in such inspection.
(5) The books of account of Corporation and its branch offices relating to a period of not less than eight years immediately preceding the current year (together with the vouchers relevant to any entry in such books of account) shall be preserved in good order.
15. Inspection of books of account, etc.
(1) It shall be the duty of the Managing Director and every officer or employee of the Corporation to:-
(a) Produce to the person making the inspection in terms of sub-rule (4) of rule 14 all such books of accounts and other books and documents of the Corporation in his custody or control and to furnish him with any statement, information or explanation relating to the affairs of the Corporation as the said person may require of him within such time and at such s he may specify.
(b) Render all assistance in connection with the inspection which the Corporation may be expected to give; and
(c) Ensure personal attendance if required at the time of inspection.
(2) The person making inspection sub-rule (1) may, during the course of inspections:-
(a) Make or course to be made copies of books of accounts and other books and documents: or
(b) Place or cause to be placed any mark of identification thereon in token of the Inspection having been made.
(3) Where an inspection of the books of accounts and other books and document of the Corporation has been made, the person making the inspection shall make a report to the State Government within a period of one month.