Article: INDIA: SBI ASSOCIATES MAY SLASH SHARE FACE VALUE TO RS.(State Bank of India)(Brief Article)

According to "Business Standard", the State Bank of India (SBI) has moved the finance ministry's banking division to reduce the face value of the equity shares of SBI's associate banks from Rs 100 to Rs 10 or less. This can be done if the finance ministry agrees to amend the SBI Subsidiary Act. The proposal to bring down the face value to Rs 10 is seen by the market as a prelude to SBI's associates ...

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