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Circumstances under which corrective actions may be taken by the State Bank

(1) Subject to sub-section (2), where (a) a bank informs the State Bank that it is insolvent or that it is likely to become unable to meet all or any of its obligations to a material extent or that it is about to suspend payment to any extent under section 74; or (b) whether after an inspection under Section 75, or otherwise howsoever, th...

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