Section 3(2A) in The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970
(2A)[ Subject to the provisions of this Act, the authorised capital of every corresponding new bank shall be three thousand crores of rupees divided into three hundred crores of fully paid-up shares of ten rupees each :-Provided that the corresponding new bank may reduce the nominal or face value of the shares, and divide the authorised capital into such denomination as it may decide with the prior approval of the Reserve Bank :-Provided further that the Central Government may in consultation with the Reserve Bank and by notification in the Official Gazette increase or the authorised capital as it deems fit so however that the shares in all cases shall be fully paid-up shares.]
