Section 49(2) in The State Bank Of India (Subsidiary Banks) Act, 1959
(2)Where any officer or other employee of an existing bank [***] [Words "or the Saurashtra Bank" omitted by Act No. 48 of 2009] has received any amount by reason of such appointment, promotion or increment or any such pension, allowance or other benefit as is referred to in sub-section (1), which has not been confirmed or sanctioned by the State Bank under that sub-section, such officer or other employee shall be bound to refund such 208 amount to the subsidiary bank concerned, and that bank shall be entitled to take all such steps as may be necessary for recovering such amount.
