Section 60
Exercise of powers and functions on behalf of the Reserve Bank. Repealed
The State Bank of India (Subsidiary Banks) Act, 1959
About this Act
An Act to provide for the formation of certain Government or Government associated banks as subsidiaries of the State Bank of India and for the constitution, management and control of the subsidiary banks so formed, and for matters connected therewith, or incidental thereto.
Any powers, duties or
functions conferred, imposed or entrusted by this Act on, or to, the Reserve Bank, shall be exercised
or performed by the Governor of the Reserve Bank or, in his absence, by a Deputy Governor
nominated under sub-section (3) of section 7 of the Reserve Bank of India Act, 1934 (2 of 1934) or by
such officer or officers of the Reserve Bank in respect of such matters and subject to such conditions
and limitations as the Governor of the Reserve Bank may specify.