The State Bank of India Act, 1955
Central · 1955
- S. 1Short title and commencement.
- S. 2Definitions.
- S. 3Establishment of the State Bank.
- S. 4Authorised capital.
- S. 5Issued capital.
- S. 6Transfer of assets and liabilities of the Imperial Bank to the State Bank.
- S. 7Transfer of service of existing officers and employees of the Imperial Bank to the State Bank.
- S. 8Existing provident and other funds of the Imperial Bank.
- S. 9Compensation to be given to shareholders of Imperial Bank.
- S. 10Transferability of shares.
- S. 10ARight of registered shareholders to nominate.
- S. 11Restrictions on voting rights.
- S. 12Shares to be approved securities.
- S. 13Register of shareholders.
- S. 13ARegister of beneficial owners.
- S. 14Omitted.
- S. 15Trusts not to be entered on the register of shareholders.
- S. 16Offices, branches and agencies.
- S. 17Management.
- S. 18Central Board to be guided by directions of Central Government.
- S. 19Composition of the Central Board.
- S. 19AQualifications for election of directors elected by shareholders.
- S. 19BPower of Reserve Bank to appoint additional directors.
- S. 20Term of office of chairman, managing director, etc.
- S. 21Local Boards.
- S. 21ATerm of office of members of Local Board.
- S. 21BPowers of Local Board.
- S. 21CLocal Committees.
- S. 22Disqualifications for directorship of Central Board or membership of Local Boards or Committees.
- S. 23Vacation of office of directors, etc.
- S. 24Removal from office of directors, etc.
- S. 24ASuppression of Central Board in certain cases.
- S. 25Casual vacancies.
- S. 26Remuneration of directors.
- S. 27Powers and remuneration of chairman.
- S. 28Omitted .
- S. 29Powers and remuneration of managing director .
- S. 30Executive and other committees of the Central Board.
- S. 31Meetings of the Central Board.
- S. 31AMeetings of Local Boards.
- S. 32State Bank to act as agent of the Reserve Bank.
- S. 33Other business which the State Bank may transact.
- S. 34Business which the State Bank may not transact.
- S. 35State Bank may acquire the business of other Banks.
- S. 35AArrangement with the State Bank on appointment of directors to prevail.
- S. 36Integration and Development Fund.
- S. 37Reserve Fund.
- S. 38Disposal of profits.
- S. 38ATransfer of unpaid or unclaimed dividend.
- S. 39Books to be balanced each year.
- S. 40Returns.
- S. 41Audit.
- S. 42Balance sheet, etc., of State Bank may be discussed at general meeting.
- S. 43State Bank may appoint officers and other employees.
- S. 43ABonus.
- S. 44Obligation as to fidelity and secrecy.
- S. 45Bar to liquidation of State Bank.
- S. 46Indemnity of directors and members of Local Boards and Local Committees, etc.
- S. 47Defects in appointment or constitution not to invalidate acts or proceedings.
- S. 48Omi tted .
- S. 49Power of Central Government to make rules.
- S. 50Power of Central Board to make regulations.
- S. 51Requirements of foreign law to be complied with in certain cases.
- S. 52Omitte d .
- S. 53Repealed .
- S. 54Repealed .
- S. 55No proceeding to lie in India against Imperial Bank after appointed day.
- S. 56References to the Imperial Bank, the Bank of Bengal, etc., in other laws.
- S. 57Dissolution of Imperial Bank, etc.