law: Banking Regulation Act, 1949
  51. Application of certain provisions to the
  
  State Bank of India  and other notified banks
  (1) Without prejudice to the provisions of the
  
  State Bank of India Act, 1955 (23 of 1955), or any other enactment, the
  
  provisions of section 10, 13 to 15, 17 253[19 to 21A, 23 to 28, 29 (excluding
  
  sub-section (3)] 265[sub-sections (1B), (1C), and (2) of section 30], 31,
  
  34,35,35A, 36 [excluding clause (d) of sub-section (1)], 45Y to 45ZF, 46 to
  
  48],50,52 and 53 shall also apply, so far as maybe, to and in relation to the
  
  State Bank of India 253[or any corresponding new bank or a Regional Rural Bank
  
  or any subsidiary bank] as they apply to and in relation to banking companies:
  PROVIDED that,-
  (a) nothing contained in clause (c) of
  
  sub-section (1) of section 10 shall apply to the Chairman of the State Bank of
  
  India or to a 267[Managing Director] of any subsidiary bank in so far as the
  
  said clause precludes him from being a Director of, or holding an office in,
  
  any institution approved by the Reserve Bank;
  253[(b) nothing contained in sub-clause (iii)
  
  of clause (b) of sub-section (1) of section 20 shall apply to any bank referred
  
  to in sub-section (1), insofar as the said sub-clause (iii) of clause (b)
  
  precludes that bank from entering into any commitment for granting any loan or
  
  advance to or on behalf of a company (not being a government company) in which
  
  not less than forty per cent of the paid-up capital is held (whether singly or
  
  taken together) by the Central Government or the Reserve Bank or a corporation
  
  owned by that bank; and
  (c) nothing contained in section 46 or in
  
  section 47A shall apply to-
  (i) an officer of the
  
  Central Government or the Reserve Bank nominated or appointed as Director of
  
  the State Bank of India or any corresponding new bank or a Regional Rural Bank
  
  or any subsidiary bank or a banking company; or
  (ii) an officer of the
  
  State of India or a corresponding new bank or a Regional Rural Bank or a
  
  subsidiary bank nominated or appointed as Director of any of the said banks
  
  (not being the bank of which he is an officer) or of a banking company.]
  (2) References to a banking company in any
  
  rules or direction relating to any provisions of this Act referred to in
  
  sub-section (1) shall, except where such rule or direction provides otherwise, be
  
  construed as referring also to the State Bank of India, a corresponding new
  
  bank, a Regional Rural Bank and a subsidiary bank.]