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Union of India - Section
Section 4 in The State Bank Of India Act, 1955
4. [ Authorised capital [Substituted by Act 27 of 2010]-
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.]| 4. [ Authorised capital.- Subject to the provisions of this Act, the authorised capital of the State Bank shall be twenty crores of rupees divided into[two crores] [ Substituted by Act 3 of 1994, Section 2, for " twenty lakhs" (w.r.e.f. 15-10-1993).]of fully paid-up shares of[ten rupees] [ Substituted by Act 3 of 1994, Section 2, for " one hundred rupees" (w.r.e.f. 15-10-1993).]each:Provided that the Central Government may increase or reduce the authorised capital as it thinks fit, so, however, that the shares in all cases shall be fully paid-up shares of[ten rupees] [ Substituted by Act 3 of 1994, Section 2, for " one hundred rupees" (w.r.e.f. 15-10-1993).]each. |