Section 5 in State Bank of India Employees Pension Fund Regulations, 2014
5. Committees of the Fund.
(1)The trustees may appoint any one from their number, who shall be an executive officer of the Bank, to exercise on behalf of the trustees all powers and discretions vested in the trustees in connection with sanctioning of pensions admissible under these regulations.(2)The trustees may also appoint a committee from their number to carry on other ordinary business of the Fund including the sale of securities and investment of Funds.(3)Three trustees shall form a quorum of the committee subject, however, to the over-riding condition that two of the trustees present shall be the Directors who are not executive officers of the Bank.(4)All decisions of the committee shall be unanimous, failing which the matter on which there is a division of opinion shall be referred to a meeting of the Board of trustees.
