Section 67 in State Bank of India General Regulations, 1955
67. Loan or advance to officers and employees.
- No loan or advance shall be granted -(a)to the chairman, [***] [Omitted for the words 'the vice-chairman' by the State Bank of India General (Amendment) Regulations, 2013 (Regulation 67), with effect from 3rd March, 2014, published in the Gazette of India, Extraordinary, Part II. - Section 4, dated 04.03.2014.] or a managing director, without the sanction of the Central Board or the Executive Committee; and(b)to any other officer or employee of the State Bank, without the sanction of the Executive Committee or of the Local Board, as the case may be, under which such other officer or employee is serving, if such loan or advance is not granted in accordance with the terms and conditions approved by the Central Board or the Executive Committee or is not granted against a specified security.
