State Bank of India Act, 1955 · Chapter VII: Funds, Accounts and Audit
Section 39: Books to be balanced each year
The Central Board shall cause the books of the State Bank to be closed, and balanced [as] on the 31st day of [March] [or such other date in each year as the Central Government may, by notification in the Official Gazette, specify:]
[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books in respect of the concerned years.]
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 39
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