Section 3. The resources of this Bank will mainly comprise of contributions from the Industrial Development Ban

3. The resources of this Bank will mainly comprise of contributions from the Industrial Development Bank of India in the form of loans and shares and may include market borrowings and short-term and long-term funds from the Reserve Bank of India and loans from the Government of India. It is also proposed to transfer to this Bank the business assets and liabilities, rights, interests, privileges and obligations of the Industrial Development Bank of India relating to the Small Industries Development Fund and the National Equity Fund. NEW DELHI; The 2 nd May , 1989. S. B. CHAVAN. CHAPTER II ESTABLISHMENT OF THE SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA AND CAPITAL THEREOF 3. Establishment and incorporation of Small Industries Development Bank of India. —(1) With effect from such date as the Central Government may, by notification, appoint, there shall be established, for the purposes of this Act, a corporation to be known as the Small Industries Development Bank of India. (2) The Small Industries Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue or be sued. (3) The head office of the Small Industries Bank shall be at Lucknow or at such other place as the Central Government may, by notification, specify. (4) The Small Industries Bank shall establish offices, branches or agencies at any place in or outside India. 4[ 4 . Authorised capital. —The authorised capital of the Small Industries Bank shall be one thousand crores of rupees divided into seventy-five crores fully paid-up equity shares of rupees ten each and twenty-five crores of fully paid-up redeemable preference shares of rupees ten each: Provided that the Central Government may, on the recommendation of the Board, by notification, increase the authorised capital to an amount not exceeding two thousand crores of rupees consisting of such number of equity shares and redeemable preference shares as it may deem fit. 1. Ins. by Act 7 of 2000, s. 2 (w.e.f. 27-3-2000). 2. Ins. by Act 53 of 2003, s. 12 and Sch. (w.e.f. 2-7-2004). 3. Cl. (q) omitted by s. 12 and Sch. ibid . (w.e.f. 2-7-2004). 4. Subs. by Act 7 of 2000, s. 3, for ss. 4 to 6 (w.e.f. 27-3-2000).