Section 29(1) in The State Bank Of India (Subsidiary Banks) Act, 1959
(1)The State Bank shall, after consulting the Board of Directors of a subsidiary bank, [and the Reserve Bank, and with the approval of the Central Government] [Substituted by Act 17 of 2011.], appoint a [managing director] [Substituted by Act 48 of 1973, Section 21 for "general manager" (w.e.f. 1-7-1974)] for that subsidiary bank:Provided that in the case of the first appointment of the [managing director] [Substituted by Act 48 of 1973, Section 21 for "general manager" (w.e.f. 1-7-1974)] no such consultation with the Board of Directors of the subsidiary bank shall be necessary.
