Section 47(2) in State Bank of India General Regulations, 1955
(2)[ Four directors of whom not less than two shall be the directors elected under clause (c) of section 19 of the Act or nominated under clause (d) of the said section shall form a quorum for transaction of business:Provided that where, by reason of the provisions of sub-section (4) read with sub-section (3) of section 31 of the Act, any director is unable to be present and vote at a meeting of the Executive Committee, or while some particular business is being transacted by the Executive Committee, and in consequence thereof the number of directors present and eligible to vote is less than four, the quorum for such meeting or, as the case may be, for the transaction of that business shall be three of whom one shall be a director elected under clause (c) of section 19 of the Act or nominated under clause (d) of the said section.] [Substituted by the State Bank of India General (Amendment) Regulations, 2013 (Regulation 23), with effect from 3rd March, 2014, published in the Gazette of India, Extraordinary, Part II. - Section 4, dated 04.03.2014.]
