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State Bank of India Act, 1955

34. Business which the State Bank may not transact

(1) Save as otherwise provided in 86[this Act], the State Bank shall not own or acquire any 87[***] immovable property except for the purpose of providing buildings or other accommodation in which to carry on the business of the State Bank or for providing residences for its officers and other employees :

Provided that if any such building or other accommodation is not immediately required for any of the purposes of the State Bank, the State Bank may utilize it to the best advantage by letting it out or in any other manner.



State Bank of India Act, 1955 Back




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