State Bank of India (Subsidiary Banks) Act : Staff of a subsidiary bank. Indian Bare Acts :

State Bank of India (Subsidiary Banks) Act,1959

Act No : 38

Section : Staff of a subsidiary bank.

50. Staff of a subsidiary bank.- (1) A subsidiary bank may, subject to such limitations and conditions as may be prescribed, appoint such number of officers, advisers and employees as it considers necessary or desirable, for the efficient performance of its functions and on such terms and conditions as it may deem fit. (2) For the removal of doubts, it is hereby declared that the officers, advisers and employees of a subsidiary bank, in whatever capacity engaged, shall not be deemed to be officers, advisers or employees of the State Bank for any purpose, unless otherwise provided in the contract or agreement of service of any such officer, adviser or employee.