The State Bank of India Act, 1955
Section 34. Business which the State Bank may not transact.
1***(6) Save as otherwise provided in 2[this Act] the State Bank shall not own or, acquire any 3*** immovable property except for the purpose of providing buildings or other accomodation in which to carry on the business of the State Bank or for providing residences for its officers and other employees:
Provided that if any such building or other accommodation is not immediately required for any of the purposes of the State Bank, the State Bank may utilise it to the best advantage by letting it out or in any other manner.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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