The State Bank of India Act, 1955 — back to Table of Contents
Section 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 of ten 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.
Note: This section was substituted by the State Bank of India (Amendment) Act, 2010, with effect from 15 September 2010, replacing the earlier fixed figure of twenty crores of rupees.
