Section 7(4) in The State Bank Of India (Subsidiary Banks) Act, 1959
(4)[ A new bank may from time to time, [with the approval of the State Bank and the Central Government in consultation with the Reserve Bank] [Substituted by Act 30 of 2007 (w.e.f. 18.6.2007) ], increase, whether by [public issue or rights issue] [Substituted by Act 17 of 2011.]or by preferential allotment or private placement in accordance with the procedure as may be prescribed, its issued capital by issue of equity or preference shares.
