The State Bank of India Act,1955
Section 1. Short title and commencement
ACT NO.23 OF 1955
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.
Whereas for the extension of banking facilities on a large scale, more particularly in the rural and semi-urban areas, and for diverse other public purposes it is expedient to constitute a State Bank for India, and to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto;
BE it enacted by Parliament in the Sixth Year of the Republic of India as follows:-
(1) This Act may be called the State Bank of India Act,1955.
(2) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint.
1. 1st July,1955, Vide Notification No.S.R.O.1077, dated the 14th May,1955, Gazete of India, Pt.II, Sec.3, Page 869.