Act Info:
Preamble1 - STATE BANK OF INDIA ACT, 1955
Chapter 1 Section1 - Short title and commencement
Section2 - Definitions
Chapter 2 Section3 - Establishment of the State Bank
Section4 - Authorised capital
Section5 - Issued capital
Chapter 3 Section6 - Transfer of assets and liabilities of the Imperial Bank to the State Bank
Section7 - Transfer of service of existing officers and employees of the Imperial Bank to the State Bank
Section8 - Existing provident and other funds of the Imperial Bank
Section9 - Compensation to be given to shareholders of Imperial Bank
Chapter 4 Section10 - Transferability of shares
Section11 - Restrictions on voting rights
Section12 - Shares to be approved securities
Section13 - Register of shareholders
Section13A - Register of beneficial owners
Section14 - [Omitted]
Section15 - Trusts not to be entered on the register of shareholders
Chapter 5 Section16 - Offices, branches and agencies
Section17 - Management
Section18 - Central Board to be guided by directions of Central Government
Section19 - Composition of the Central Board
Section20 - Term of office of Chairman, managing director, etc.
Section21 - Local Boards
Section21A - Term of office of members of Local Board
Section21B - Powers of Local Board
Section21C - Local Committees
Section22 - Disqualifications for directorship of Central Board or membership of Local Boards or Committees
Section23 - Vacation of office of directors, etc.
Section24 - Removal from office of directors, etc.
Section25 - Casual vacancies
Section26 - Remuneration of directors
Section27 - Powers and remuneration of Chairman
Section28 - Power and remuneration of Vice-Chairman
Section29 - Powers and remuneration of Managing Director
Section30 - Executive and other committees of the Central Board
Section31 - Meetings of the Central Board
Section31A - Meetings of Local Boards
Chapter 6 Section32 - State Bank to act as agent of the Reserve Bank
Section33 - Other business which the State Bank may transact
Section34 - Business which the State Bank may not transact
Section35 - State Bank may acquire the business of other Banks
Section35A - Arrangement with the State Bank on appointment of directors to prevail
Chapter 7 Section36 - Integration and Development Fund
Section37 - Reserve Fund
Section38 - Disposal of profits
Section39 - Books to be balanced each year
Section40 - Returns
Section41 - Audit
Section42 - Balance Sheet, etc. of State Bank may be discussed at general meeting
Chapter 8 Section43 - State Bank may appoint officers and other employees
Section43A - Bonus
Section44 - Obligation as to fidelity and secrecy
Section45 - Bar to liquidation of State Bank
Section46 - Indemnity of directors and members of Local Boards and Local Committees, etc.
Section47 - Defects in appointment or constitution not to invalidate acts or proceedings
Section48 - Power to remove difficulties [Repealed]
Section49 - Power of Central Government to make rules
Section50 - Power of Central Board to make regulations
Section51 - Requirements of foreign law to be complied with in certain cases
Section52 - Amendment of Act 2 of 1934
Section53 - Amendment of Act 10 of 1949
Section54 - Amendment of Act 47 of 1920
Section55 - No proceeding to lie in India against Imperial Bank after appointed day
Section56 - References to the Imperial Bank, the Bank of Bengal, etc. in other laws
Section57 - Dissolution of Imperial Bank, etc.
ScheduleI - THE FIRST SCHEDULE
ScheduleII - THE SECOND SCHEDULE
ScheduleIII - THE THIRD SCHEDULE
ScheduleVI - THE FOURTH SCHEDULE
ScheduleV - THE FIFTH SCHEDULE
Amending Act1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006
Amending Act2 - THE STATE BANK OF INDIA (SUBSIDIARY BANKS LAWS) AMENDMENT ACT, 2007
Amending Act3 - THE STATE BANK OF INDIA (AMENDMENT) ACT, 2007