(1)The issued capital of the State Bank shall, on the appointed day, be five crores, sixty-two lakhs and fifty thousand rupees divided into five lakhs, sixty-two thousand and five hundred shares, all of which shall, on the appointed day, stand allotted to the Reserve Bank in lieu of the shares of the Imperial Bank [transferred to and vested in it under section 6.] [ Substituted by Act 33 of 1955, Section 2, for " transferred to it by paragraph 2 of the First Schedule" (with retrospective effect).]
