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Union of India - Section

Section 27 in The State Bank Of India Act, 1955

27. Powers and remuneration of chairman.

(1)The chairman shall preside at all meetings of the Central Board and, subject to such general or special directions as the Central Board may give, exercise all such powers and do all such acts and things as may be exercised or done by the State Bank.
(2)The chairman shall receive such salary, fees, allowances and perquisites as may be determined by the Central Government:[* * *][* * *] [Section 28 is Omitted by Act 27 of 2010]
28. Powers and remuneration of vice-chairman.(1) The vice-chairman shall preside at the meetings of the Central Board in the absence of the chairman and, subject to the general control of the chairman, exercise such powers and perform such duties as may be entrusted or delegated to him by the Central Board.(2) The vice-chairman shall receive such salary, fees, allowances and perquisites as may be determined by the Central Government:[* * *](3) The fact that the vice-chairman exercises any of the powers and does any act or thing for or on behalf of the State Bank shall be conclusive proof of his authority to do so.