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[Cites 0, Cited by 0] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(5) in The State Bank Of India Act, 1955

(5)The State Bank may, accept the money in respect of shares issued towards increase in the issued capital in instalments, make calls, forfeit unpaid shares and re-issue them, in such manner as may be prescribed.] [Inserted by Act 27 of 2010 ]
(2) The Central Board may from time to time increase the issued capital but no increase in the issued capital shall be made in such a manner that the[Central Government] [ Substituted by Act 32 of 2007, Section 3, for " Reserve Bank" (w.r.e.f. 29-6-2007).]holds at any time less than fifty-five per cent. of the issued capital of the State Bank.