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Section 25 – The State Bank of Hyderabad Act,1956

The State Bank of Hyderabad Act,1956

Section 25. Other business which the Hyderabad Bank may transact

(1) Subject to the other provisions contained in this Act, the Hyderabad Bank may carry on and transact the business of banking as defined in clause (b) of sub-section (1) of section 5 of the Banking Companies Act,1949 (10 of 1949), and may engage in such one or more of the other forms of business, as are specified in sub-section (1) of section 6 of the said Act.

(2) The Central Government may, after previous consultation with the Reserve Bank, by order in writing-

(a) Authorise the Hyderabad Bank to do such other forms of business as the Central Government may consider necessary or expedient;

(b) Direct that any form of business as is mentioned in the order, shall be carried on subject to such restrictions, conditions and safeguards as may be specified therein, or

(c) Prohibit the Hyderabad Bank from carrying on or transacting any form of business which, but for this clause, it is lawful for the Hyderabad Bank to engage in.

(3) Subject to the provisions of sub-section (2), the Hyderabad Bank shall not engage in any form of business other than that referred to in sub-section (1).

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The State Bank of Hyderabad Act,1956

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