Section 38: Disposal of profits.

The State Bank of India Act, 1955Central Act · Act 23 of 1955

(1) After making provision for bad and doubtful debts, depreciation in assets, equalisation of dividends, contribution to staff and superannuation funds and for all other matters for which provisions is necessary by or under this Act or which are usually provided for by banking companies, the State Bank may, out of its net profits, declare a dividend.

(2) Subject to the provisions of paragraph 6 of the First Schedule, the rate of dividend shall be determined by the Central Board.

Where this provision sits

Act	The State Bank of India Act, 1955
Section	38
Marginal note	Disposal of profits.
Jurisdiction	Central
Status	In force as published by the source

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