law: State Financial Corporations Act, 1951 
  2. Definitions 
  In this Act unless the context otherwise requires-
  (a) "Board" means the Board of Directors of the
  
  Financial Corporation;
  (aa) "Development Bank" means the Industrial
  
  Development Bank of India established under the Industrial Development Bank of
  
  India Act, 1964 (18 of 1964);
  (b) "Financial Corporation" means a Financial
  
  Corporation established under section 3 and includes a Joint Financial
  
  Corporation established under section 3A;
  (c) "industrial concern" means any concern
  
  engaged or to be engaged in-
  (i) the manufacture, preservation or
  
  processing of goods;
  2[(ii) mining or development of mines;]
  (iii) the hotel industry;
  (iv) the transport of passengers or goods by
  
  road or by water or by air 3[or by ropeway or by lift];
  (v) the generation or distribution of
  
  electricity or any other form of power;
  (vi) the maintenance, repair, testing or
  
  servicing of machinery of any description or vehicles or vessels or motor boats
  
  or trailers or tractors;
  (vii) assembling, repairing or packing any
  
  article with the aid of machinery or power;
  2[(viii) the setting up or development of an
  
  industrial area or industrial estate;]
  (ix) fishing or providing shore facilities for
  
  fishing or maintenance thereof; 4[***]
  (x) providing special or technical knowledge
  
  or other services for the promotion of industrial growth;
  3[(xi) providing weighbridge facilities;
  (xii) the research and development of any
  
  process or product in relation to any of the matters aforesaid; or
  (xiii) such other activity as may be approved
  
  by the Development Bank.]
  5[Explanation 1]: The expression
  
  "processing of goods" includes any art or process for producing,
  
  preparing or making an article by subjecting any material to a manual,
  
  mechanical, chemical, electrical or any other like operation.]
  3[Explanation 2: If any doubt arises as
  
  to whether a concern is an industrial concern or not, the same shall be
  
  referred to the Development Bank for its decision and the decision of the
  
  Development Bank thereon shall be final.]
  (d) "prescribed" means prescribed by rules or
  
  regulations made under this Act;
  (e) "Reserve Bank" means the Reserve Bank of
  
  India constituted under the Reserve Bank of India Act, 1934 (2 of 1934);
  (f) "scheduled bank" means a bank for the time
  
  being included in the Second Schedule to the Reserve Bank of India Act, 1934 (2
  
  of 1934);
  (ff) "State Co-operative Bank" shall have the
  
  meaning assigned to it in clause (f) of section 2 of the Reserve Bank of India
  
  Act, 1934 (2 of 1934);
  (fff) "State Government", in relation to a
  
  Union Territory, means the Administrator thereof;
  (g) "underwriting" means contract, with or
  
  without conditions, to subscribe for stocks, shares, bonds or debentures of an
  
  industrial concern with a view to the resale of the whole or any part thereof.