Section 37
Reserve Fund.
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.
The State Bank shall establish a Reserve Fund which shall consist of--
(a) the amount held in the Reserve Fund of the Imperial Bank transferred to the State Bank on the appointed day; and
(b) such further sums as may be transferred to it by the State Bank out of its annual net profits before declaring a dividend.
(a) the amount held in the Reserve Fund of the Imperial Bank transferred to the State Bank on the appointed day; and
(b) such further sums as may be transferred to it by the State Bank out of its annual net profits before declaring a dividend.