43. Returns to be furnished by a subsidiary bank.- (1) A subsidiary bank shall furnish to the State Bank, the Reserve Bank and the Central Government
(a) within three months from the 31st day of *[March] or the date notified under section 39, as the case may be, as on which its books are closed and balanced, its balance-sheet, together with the profit and loss account and the auditor's report, and a report by the Board of Directors on the working and activities of the subsidiary bank during the period covered by the accounts; and
(b) any other information relating to the affairs and business of the subsidiary bank which the State Bank or the Reserve Bank may require:
Provided that the Reserve Bank may, after consultation with the State Bank, extend the said period of three months by such further period, not exceeding three months, as it may think fit.
*[(2) The balance-sheet and profit and loss account of the subsidiary bank shall be signed by persons holding the office of the chairman, managing director, and a majority of the other directors of the subsidiary bank in office.]
(3) The Central Government shall cause the auditor's report and the report by the Board of directors on the working and activities of the subsidiary bank to be laid, as soon as may be after they are received, before each House of Parliament.
*[Substituted by State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007]
| 