Section 4
Authorised capital.
The State Bank of India Act, 1955
About this Act
An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.
1[4. Authorised capital.--Subject to the provisions of this Act, the authorised capital of the State
Bank shall be five thousand crores of rupees divided into five hundred crores of fully paid-up shares often
rupees each:
Provided that the Central Board may reduce the nominal or face value of the shares, and divide the authorised capital into such denomination as it may decide with the approval of the Reserve Bank:
Provided further that the Central Government may, in consultation with the Reserve Bank, increase or reduce the authorised capital so however that the shares in all cases shall be fully paid-up shares.]
Provided that the Central Board may reduce the nominal or face value of the shares, and divide the authorised capital into such denomination as it may decide with the approval of the Reserve Bank:
Provided further that the Central Government may, in consultation with the Reserve Bank, increase or reduce the authorised capital so however that the shares in all cases shall be fully paid-up shares.]
Notes
1. Subs. by Act 27 of 2010, s. 3, for section 4 (w.e.f. 15-9-2010).