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Schedule 4 – The State Bank of India Act,1955

The State Bank of India Act,1955

Schedule 4

THE FOURTH SCHEDULE

(See section 53)

AMENDMENTS TO THE BANKING COMPANIES ACT,1949 (10 of 1949)

In section 39.After the words “the Reserve Bank” appearing for the second time therein, insert “or the State Bank of India, as the case may be, as stated in such application”.

For section 51, substitute the following, namely:-

“51. Application of certain provisions to the State Bank of India.

Without prejudice to the provisions of the State Bank of India Act,1955, the provisions of sections 10,13 to 17,19 to 21,23 to 31, 34 to 36, 37, 45, 46 to 48, 50, 52 and 53 shall also apply, as far as may be, to and in relation tooth State Bank of India as they apply to and in relation to banking companies:

Provided that nothing contained in section 46 shall apply to any directors nominated under clauses (e) and (f) of section 19 of the State Bank of India Act,1955.”

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The State Bank of India Act,1955

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