Act Number: 38

Act Name: The State Bank of India (Subsidiary Banks) Act, 1959

Year: 1959

Enactment Date: 1959-09-10

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 3: Establishment of new banks.
    1[3. Establishment of new banks.--With effect from such date as the Central Government may, by notification in the Official Gazette, specify in this behalf, there shall be constituted the following new banks, namely:--
         (a) the State Bank of Bikaner;
         2*                             *                             *                             *                             *
         3*                             *                             *                             *                             *
         (d) the State Bank of Mysore;
         (e) the State Bank of Patiala;
         (f) the State Bank of Travancore;
and different dates may be specified for different new banks.]
Notes:
1. Subs. by Act 56 of 1962, s. 3, for the heading (w.e.f. 14-12-1962).
2. Clause (b) omitted by Act 7 of 2011, s. 3 (w.e.f. 1-6-2011).
3. Clause (c) omitted by Act 56 of 1962, s. 3 (w.e.f. 1-1-1963).
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