Section 27
Powers and remuneration of chairman.
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 Chairman shall preside at all meetings of the
Central Board and subject to such general or special directions as the Central Board may give, exercise all
such powers and do all such acts and things as may be exercised or done by the State Bank.
(2) The chairman shall receive such salary, fees, allowances and perquisites 1[as may be determined by the Central Government].
2* * * * *
(2) The chairman shall receive such salary, fees, allowances and perquisites 1[as may be determined by the Central Government].
2* * * * *
Notes
1. Subs. by Act 73 of 1976, s. 4, for certain words (w.e.f. 11-6-1976).
2. The proviso omitted by s. 4, ibid. (w.e.f. 11-6-1976).
2. The proviso omitted by s. 4, ibid. (w.e.f. 11-6-1976).