Act Number: 23

Act Name: The State Bank of India Act, 1955

Year: 1955

Enactment Date: 1955-05-08

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 2: Definitions.
    In this Act, unless the context otherwise requires,--
         (a) "appointed day" means the date on which this Act comes into force;
         (b) "Central Board" means the Central Board of Directors of the State Bank;
         1[(bb) "chairman" means the chairman of the Central Board;]
         (c) "goods" includes bullion, wares and merchandise;
         (d) "Imperial Bank" means the Imperial Bank of India constituted under the Imperial Bank of India Act, 1920 (47 of 1920);
         1[(dd) Local Board means a Local Board constituted under section 21;]
         (e) "prescribed" means prescribed by regulations made under this Act;
         (f) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (2 of 1934);
         (g) "State Bank" means the State Bank of India constituted under this Act;
         2*                             *                             *                             *                             *
        3*                             *                             *                             *                             *
        4[(j) "workman" has the meaning assigned to it in the Industrial Disputes Act, 1947 (14 of 1947).]
Notes:
1. Ins. by Act 35 of 1964, s. 2 (w.e.f. 1-12-1964).
2. Clause (h) omitted by Act 19 of 2018, s. 3 (w.e.f. 1-4-2017).
3. Omitted by Act 27 of 2010, s. 2 (w.e.f. 15-9-2010).
4. Ins. by Act 48 of 1973, s. 2 (w.e.f. 1-7-1974).
Scroll to Top