:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

UNION BUDGET 2011: SBI GETS RIGHT TO REDUCE STAKE IN SUBSIDIARIES TO 51%


The government will give the State Bank of India, the freedom to reduce its stake in its subsidiaries to 51% through a bill proposed to be introduced in parliament during the budget session.

The move will enable SBI to raise capital and boost its own operations. The finance minister in his budget speech on Monday announced that State Bank of India (Subsidiary Banks Laws) Amendment Bill, 2009 will be introduced soon.

SBI has 20% market share and plans to tap the capital market to raise Rs 20,000 crore through rights issue

SOURCE: http://articles.economictimes.indiatimes.com/2011-02-28/news/28642098_1_state-bank-associate-banks-subsidiary-banks-laws

Posted by C.B.O.A., A.P.

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