The Head Office of the SBI is located in Mumbai. And the Bank has local offices at Calcutta, Mumbai, Chennai, New Delhi, Lucknow, Ahmedabad, Hyderabad, Patna, Bhopal, Bhubaneswar, Chandigarh, Guwahati and Bangalore.

The bank is administered by a central board of directors consisting of:

(a) Chairman (appointed by the Central Government in consultation with RBI)

(b) Vice-Chairman (appointed by the Central Government in consultation with RBI)

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(c) Managing Directors (appointed by the central board with the approval of the central government)

(d) Directors (Elected) (elected by the shareholders other than RBI)

(e) Directors (Nominated) (nominated by the central government in consultation with RBI to represent territorial and economic interest having commerce, industry, banking or finance)

(f) Director (Nominated) (nominated by the central government)

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(g) Director (Nominated) (nominated by RBI)

Total members

The Chairman, Vice-chairman and Managing Director shall hold office for such terms not exceeding five years, as the central government may fix when appointing them and shall be eligible for reappointment.

The dir actors elected by the shareholders and nomi­nated by the central government will hold office for four years and are eligible for reelection or denomination. Other nominated directors will hold office during the pleasure of the authority appointing them.

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At each place where the State Bank has a local head office, there is a local board consisting of the members of the Central Board residing in that area and not more than 8 directors, of which one will be elected by shareholders whose names appear in the branch register concerned, 6 will be nominated by the central government and the re­maining one will be filled by the secretary and treasurer.

Further, there can be local commit­tees where there are no head offices. No person who is a member of the central or state legislature can be a director of the bank.

The local boards will be required to exercise all powers and perform all functions of the bank in relation to the specified business that may be carried on under the provisions of Sections 32 and 33 of the Act.

With a view to enabling the local boards to cater much more effectively and expeditiously to the banking require­ment of their respective regions, their powers and authority have been enhanced.