Section 20 in The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970
20. [ Increase of paid-up capital.
- The paid-up capital of a Nationalised Bank may be increased from time to time as in sub-clause (a) or sub-clause (b) or sub-clause (c) below or in combination with any of them: -(a)the Board of Directors of a Nationalised Bank may, after consultation with the Reserve Bank and with the previous sanction of the Central Government transfer to its capital a specified amount from the reserve fund establishment by such bank under sub-section (6) of section 3 of the Act;(b)the Central Government may, in consultation with the Reserve Bank, make contribution of any specified amount to the paid-up capital of a Nationalised Bank;(c)the Board may, after consultation with the Reserve Bank and with the previous sanction of the Central Government, raise the paid-up capital by public issue of shares in such manner as may be prescribed; so, however, that the Central Government shall at all times hold not less than fifty-one per cent. of the paid-up capital of each Nationalised Bank.]THE FIRST SCHEDULE[See clause 2 (h)] Subject : Procedure for verification of membership of unions operating in the Nationalised Bank.
