State Bank of India Subsidiary Banks Act, 1959 Chapter I - Bare Act

This Act may be called the State Bank of India (Subsidiary Banks) Act, 1959.

In this Act, unless the context otherwise requires,--

(a) "appointed day" means,--

(i) in relation to an existing hank, the date on which the corresponding new bank is constituted under section 3;

(ii) in relation to a new bank, the date on which that new bank is constituted under section 3;

(iii) in relation to the Hyderabad Bank, the dale on which the amendments to the State Bank of Hyderabad Act, 1956, take effect under Part VII of the Third Schedule;

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(b) "corresponding bank" means,--

(i) in relation to the State Bank of Bikaner, the Bank of Bikaner, Limited;

(ii) in relation to the State Bank of Indore, the Bank of Indore, Limited;

(iii) [Omitted by the State-Associated Banks (Miscellaneous Provisions) Act, 1962 (56 of 1962), Section 3 (1-1-1963):]

(iv) in relation to the State Bank of Mysore, the Bank of Mysore, Limited;

(v) in relation to the State Bank of Patiala, the Bank of Patiala;

(vi) in relation to the State Bank of Travancore, the Travancore Bank, Limited;

(c) "corresponding new bank" means,--

(i) in relation to the Bank of Bikaner, Limited, the State Bank of Bikaner;

(ii) in relation to the Bank of Indore, Limited, the State Bank of Indore;

(iii) [Omitted by the State-Associated Banks (Miscellaneous Provisions) Act, 1962 (56 of 1962), Section 3 (1-1-1963);]

(iv) in relation to the Bank of Mysore, Limited, the State Bank of Mysore;

(v) in relation to the Bank of Patiala, the State Bank of Patiala;

(vi) in relation to the Travancore Bank, Limited, the State Bank of Travancore;

(d) "existing bank" means any of the following banks, namely:--

(i) Bank of Bikaner, Limited;

(ii) Bank of Indore, Limited;

(iii) [Omitted by the State-Associated Banks (Miscellaneous Provisions) Act, 1962 (56 of 1962), Section 3(1-1-1963);]

(iv) Bank of Mysore, Limited;

(v) Bank of Patiala;

(vi) Tritvancore Bank, Limited;

(e) "Hyderabad Bank" means the Hyderabad State Bank constituted under the Hyderabad State Bank Act, 1350-F, and renamed the State Bank of Hyderabad under sub-section (1) of section 3 of the State Bank of Hyderabad Act, 1956;

(f) "new bank" means any of the banks constituted under section 3;

(g) "prescribed" means prescribed by regulations made under this Act;

(h) ''Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934;

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(j) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955;

(k) "subsidiary bank" means any new bank and includes the Hyderabad Bank ⁴[***]

(1) "Tribunal" means the Tribunal constituted under section 15.

¹[(m)] "workman" has the meaning assigned to it in the Industrial Dispute, Act, 1947.]

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1. Inserted by the State Bank Laws (Amendment) Act, 1973 (48 of 1973), Section 20 w.e.f. 1-7-1974.

2. Omitted by the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 w.e.f. 01.06.2010 previous text was :-

"(iv) in relation to me Saurashtra Bank, the date on which the amendments to the Saurashtra State Banks (Amalgamation) Ordinance, 1950, take effect under Part V of the Third Sched­ule:"

3. Omitted by the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 w.e.f. 01.06.2010 previous text was :-

"(i) "Saurashtra Bank" means the State Bank of Saurashtra constituted under the Saurashtra State Banks (Amalgamation) Ordinance, 1950;"

4. Omitted by the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 w.e.f. 01.06.2010 previous text was :-

"and the Saurashtra Bank."