Section 7(6) in The State Bank Of India (Subsidiary Banks) Act, 1959
(6)[ A new bank may, [with the approval of the State Bank and the Central Government in consultation with the Reserve Bank] [Inserted by Act 30 of 2007 (w.e.f. 18.6.2007) ], increase from time to time by way of issuing bonus shares to existing equity shareholders, its issued capital in such manner as the State Bank, [in consultation with the Reserve Bank and with the approval of the Central Government] [Substituted by Act 17 of 2011.], direct.
