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 56: Continuance of special provisions respecting recovery of loans and advances made by the Bank of Patiala.
    56. Continuance of special provisions respecting recovery of loans and advances made by the Bank of Patiala 1***.--The State Bank of Patiala 2*** shall be entitled to recover in the same manner as an arrear of land revenue any moneys due in respect of loans or advances made before the appointed day by the Bank of Patiala 3*** and the provisions of any law, relating to such recovery as were applicable to that bank before the appointed day shall continue to apply to the State Bank of Patiala 4*** in respect of such recovery after the appointed day.
Notes:
1. The words "and the State Bank of Saurashtra" omitted by Act 48 of 2009, s. 10 (w.e.f. 1-6-2010).
2. The words "and the Saurashtra Bank" omitted by s. 10, ibid. (w.e.f. 1-6-2010).
3. The words "or the Saurashtra Bank, as the case may be," omitted by s. 10, ibid. (w.e.f. 1-6-2010).
4. The words "or the Saurashtra Bank, as the case may be," omitted by Act 48 of 2009, s. 10 (w.e.f. 1-6-2010).
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