Section 32(1) in The State Bank Of India Act, 1955
(1)The State Bank shall, if so required, by the Reserve Bank, act as agent of the Reserve Bank at all places in India where it has a branch, [***] [Omitted 'or where there is a branch of a subsidiary bank' by State Banks (Repeal and Amendment) Act, 2018 (Act 19 of 2018), dated 2.8.2018.], and where there is no branch of the banking department of the Reserve Bank, for-(a)paying, receiving, collecting and remitting money, bullion and securities on behalf of any Government in India; and(b)undertaking and transacting any other business which the Reserve Bank may from time to time entrust to it.
