Section 17
Management.
The State Bank of India Act, 1955
About this Act
An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.
(1) The general superintendence and direction of the affairs and business of the
State Bank shall be entrusted to the Central Board which may exercise all powers and do all such acts and
things as may be exercised or done by the State Bank and are not by this Act expressly directed or
required to be done by the State Bank in general meeting.
(2) The Central Board in discharging its functions shall act on business principles, regard being had to public interest.
(2) The Central Board in discharging its functions shall act on business principles, regard being had to public interest.