Title : State Bank of India Subsidiary Banks Act, 1959
State : Central
Year : 1959
Preamble1 - STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959 Chapter I Section1 - Short Title Section2 - Definitions ChapterII - CONSTITUTION OF NEW BANKS AND CHANGE OF NAME OF ANY SUBSIDIARY BANK Section3 - Establishment Or New Banks Section3A - Change Or Name Of A Subsidiary Bank Section4 - New Banks To Be Bodies Corporate Section5 - Head Office And Branches Of New Banks Section6 - Authorised Capital of New Banks Section7 - Issued Capital Of New Banks Section8 - Reserve Fund Of The New Banks Section9 - Transfer Of Shares Of Existing Banks To State Bank Section10 - TransferOf Undertaking Of Existing Banks To New Banks Section11 - Transfer Of Services Of Employees Of Existing Banks Section12 - Special Provision For Transfer Of Foreign Assets Chapter III Section13 -..... List Judgments citing this sectionTitle : the State Bank of India (Subsidiary Banks) Amendment Act, 2011
State : Central
Year : 2011
Preamble - THE STATE BANK OF INDIA (SUBSIDIARY BANKS) AMENDMENT ACT, 2011 Section 1 - Short title and commencement Section 2 - Amendment of section 2 Section 3 - Amendment of section 3 List Judgments citing this sectionTitle : Tribunal to Have Powers of a Civil Court
State : Central
Year : 1959
(1) The Tribunal shall have the powers of a Civil Court while trying a suit under the Code of Civil Procedure, 1908, in respect of the following matters, namely:-- (a) summoning and enforcing the attendance of any person and examining him on oath. (b) requiring the discovery and production of documents; (c) receiving evidence on affidavits; and (d) issuing commissions for the examination of witnesses or documents. (2) Notwithstanding anything contained in sub-section (1) or in any other law for the time being in force, the Tribunal shall not compel the Reserve Bank, the State Bank or any subsidary bank-- (a) to produce any books of account or other documents which the Reserve Bank, the State Bank or the subsidiary bank claims to be of a confidential nature; (b) to make any..... View Complete Act List Judgments citing this sectionTitle : Meetings or the Board of Directors
State : Central
Year : 1959
3[(1) The Board of Directors of a subsidiary bank shall meet at such time and place and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed; and the meeting of the Board of Directors may be held by participation of the directors of the Board through video-conferencing or such other electronic means, as may be presented, which are capable of recording and recognising the participation of the directors and the proceedings of such meetings are capable of being recorded and stored: Provided that the Central Government may in consultation with the Reserve Bank, by a notification in the Official Gazette, specify the powers which shall not be exercised in a meeting of the Board of Directors held through videoconferencing or such..... View Complete Act List Judgments citing this sectionTitle : Managing Director
State : Central
Year : 1959
1[Managing Director (1) The State Bank shall, after consulting the Board of Directors of a subsidiary bank, and with the approval of the Reserve Bank, appoint a1[ managing director] for that subsidiary bank; Provided that in the case of the first appointment of the1[managing director] no such consultation with the Board of Directors of the subsidiary bank shall be necessary. (2) Subject to the general control of the Board of Directors, the day-to-day administration and management of the affairs of a subsidiary bank shall vest in the1[managing director] and the1managing director] shall exercise such other powers and perform such other duties as may be delegated to him by the Board of Directors. (3) The1[managing director] of a subsidiary bank-- (a) shall devote his whole time..... View Complete Act List Judgments citing this sectionTitle : Staff of a Subsidiary Bank
State : Central
Year : 1959
(1) A subsidiary bank may, subject to such limitations and conditions as may be prescribed, appoint such number of officers, advisers and employees as it considers necessary or desirable, for the efficient performance of its functions and on such terms and conditions us it may deem fit. 1[(1A) The officers, advisers and employees of the subsidiary bank concerned shall individually or jointly, or with other officers, advisers and employees in a committee exercise such powers and perform such duties as may, by general or special order, be entrusted or delegated to them by the Board of Directors or its Executive Committee.] (2) For the removal of doubts, it is hereby declared that the officers, advisers and employees of a subsidiary bank, in whatever capacity engaged, shall not be..... View Complete Act List Judgments citing this sectionTitle : Continuance of Special Provisions Respecting Recovery of Loans and Advances Made by the Bank of Patiala
State : Central
Year : 1959
The State Bank of Patiala 1[***] shall be entitled to recover in the same manner as an arrear of land revenue any moneys due in respect of loans or advances made before the appointed day by the Bank of Patiala 2[***] and. the provisions of any law relating to such recovery as were applicable to that bank before the appointed day shall continue to apply to the State Bank of Patiala 2[***], in respect of such recovery after the appointed day. __________________________________ 1. 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" 2. Omitted by the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Act, 2009 w.e.f...... View Complete Act List Judgments citing this sectionTitle : Observers for Existing Banks
State : Central
Year : 1959
(1) The State Bank may, in relation to any existing bank 1[***], at any time before the appointed day,-- (a) depute one or more persons to watch the proceedings at any meeting of the Board of Directors, any committee or other body of the bank; require the bank to give an opportunity to the person or persons so deputed to be heard at such meetings and also require such person or persons to send a report of such proceedings to the State Bank; (b) require the Board of Directors, any committee or other body of the bank to give in writing to any person specified by the State Bank in this behalf, at his usual address, all notices of, and other communications relating to, any meeting of the Board committee or other body, as the case may be; (c) appoint one or more persons to observe the..... View Complete Act List Judgments citing this sectionTitle : Establishment of Pension and Superannuation Funds by Subsidiary Banks
State : Central
Year : 1959
Notwithstandinganything to the contrary contained in any other law for the time being inforce, a subsidiary bank may establish and maintain super annuaton pension,provident or other funds for the benefit of its officers or employees or thedependants of such officers or employees or for the purposes of the subsidiarybank, and grant super annuation allowances, annuities and pensions payable outof any such fund. View Complete Act List Judgments citing this sectionTitle : Change or Name of a Subsidiary Bank
State : Central
Year : 1959
1[3A. Change Or Name Of A Subsidiary Bank (1) The Central Government after consulting the State Bank and the Reserve Bank may, by notification in the Official Gazette direct that the name of any subsidiary bank shall, with effect from such date as may be specified in this behalf, be changed to any other name and thereupon any reference 10 that subsidiary bank in this Act or any other law for the time being in force or in any contract, instrument or document shall be construed as a reference to that bank by its new name. (2) The change in the name of a subsidiary bank under sub-section (1) shall not affect any rights or obligations of that bank or render defective any legal proceedings by or against it, and any legal proceedings which might have been continued or commenced by or..... View Complete Act List Judgments citing this section