Section 66 in State Bank of India General Regulations, 1955
66. Employee not to grant loan or advance to relatives.
- Save and except against specified security or in cases as may otherwise be specified by the Central Board from time to time, no employee shall grant on behalf of the State Bank, any loan or advance to -(a)a relative of his;(b)an individual in respect of whom a relative is a partner or guarantor;(c)a joint family in which a relative is a member;(d)a firm in which a relative is a partner, manager or guarantor; and(e)a company in which a relative holds substantial interest or is interested as director, manager or guarantor.
