State Bank of India (Subsidiary Banks) Act : Exercise of powers and functions on behalf of the Reserve

State Bank of India (Subsidiary Banks) Act,1959

Act No : 38

Section : Exercise of powers and functions on behalf of the Reserve Bank.

60. Exercise of powers and functions on behalf of the Reserve Bank.-Any powers, duties or functions conferred, imposed or entrusted by this Act on, or to, the Reserve Bank, shall be exercised or performed by the Governor of the Reserve Bank or, in his absence, by a Deputy Governor nominated under sub-section (3) of section 7 of the Reserve Bank of India Act, 1934, (2 of 1934.) or by such officer or officers of the Reserve Bank in respect of such matters and subject to such conditions and limitations as the Governor of the Reserve Bank may specify. --------------------------------------------------------------------- 1. Subs. by Act 56 of 1962, s. 3, for s. 59 (w.e.f. 1-1-1963). 211