State Bank of India (Amendment) Act,2010
Section 10. Amendment of Section 19
In Section 19 of the principal Act,
(a)in clause (a), the words “and a vice-chairman” shall be omitted;
(b)for clause (b), the following clause shall be substituted, namely
“(b) such number of managing directors not exceeding four, as may be appointed by the Central Government in consultation with the Reserve Bank;”;
(c)clause (bb) shall be omitted;
(d)in clause (d), the words “in consultation with the Reserve Bank,” shall be omitted;
(e)for clause (f), the following clause shall be substituted, namely
“(f) one director, possessing necessary expertise and experience in matters relating to regulation or supervision of commercial banks to be nominated by the Central Government on the recommendation of the Reserve Bank.”
