Amendment to the State Bank of India Act, 1955

for Cabinet | Date - 24-08-2006




The Union Cabinet today gave its approval to amend the existing provisions of the State Bank of India Act, 1955 to access the capital market for raising funds and for smooth functioning and better control so that State Bank of India can discharge its functions more efficiently. The Sate Bank of India (Amendment) Bill will be introduced in Parliament with such modifications.

The SBI (Amendment) Bill will enable State Bank of India to attract a large number of small individual investors.

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(Release ID :20260)

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