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Section 18 – The State Bank of India Act,1955

The State Bank of India Act,1955

Section 18. Central board to be guided by directions of Central government

(1) In the discharge of its functions, the State Bank shall be guided by such directions in matters of policy involving public interest as the Central Government may, in consultation with the Governor of the Reserve Bank and the chairman of the State Bank, give to it.

(2) 1[All directions shall be given by the Central Government] and, if any question arises whether a direction relates to a matter of policy involving public interest, the decision of the Central Government thereon shall be final.

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1. Subs. by Act No. 32 of 2007 w.e.f. 3-9-2007

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The State Bank of India Act,1955

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