Section 7   [ View Judgements ]

Amendment of the State Bank of India Act 1955

In the State Bank of India Act, 1955 -

(i) in section 33, in clause (xixb) after the words "classes of industries" the words "or is such business or trade or classes of business or trade" shall be inserted:

(ii) in section 34, to sub-section (3), the following proviso shall be added, namely:-

"Provided that nothing in sub-clause (ii) of clause (b) shall apply where the State Bank holds by way of a collateral security any negotiable instrument or security which does not mature within six months from the date aforesaid in respect of any loan advance or cash credit sanctioned under this Act"

#LawyerServices #Section #Act #Law #Statute #IndianLaw #Kanoon