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 21C: Local Committees.
    1[(1) A Local Committee may be constituted by the Central Board for any area and shall consist of such number of members as may be prescribed.
     2[(2) The chairman or the managing director nominated by him shall be an ex officio member of every such Local Committee.]
     (3) A Local Committee shall exercise such powers and perform such functions and duties as the Central Board may confer on or assign to it.]
Notes:
1. Ins. by Act 35 of 1964, s.6 (w.e.f. 1-12-1964).
2. Subs. by Act 27 of 2010, s. 15, for sub-section (2) (w.e.f. 15-9-2010).
Previous Section Next Section
Scroll to Top