Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 29 – The State Bank of India Act,1955

The State Bank of India Act,1955

Section 29. Powers and remuneration of managing director

(1) A managing director-

(a) Shall be a whole-time officer of the State Bank, 1[***]

(b) Subject to the general control of the chairman 1[***], shall exercise such powers and perform such duties as may be entrusted or delegated to him by the Central Board. 2[And]

2[(c) when authorised by the chairman, shall preside at the meetings of the Central Board in his absence.]

(2) A managing director shall receive such salary and allowances as may be determined by the Central Board with the approval of the Central Government:

Provided that in respect of the first managing director or directors, the Central Government may determine the salary and allowances payable to him or them.

——————–

1. Omitted by Act 27 of 2010 w.e.f. 24-8-2010.

2. Ins. by Act 27 of 2010 w.e.f. 24-8-2010.

Previous | Next

The State Bank of India Act,1955

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation